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Bayer MaterialScience has signed a contract for the sale of its Viverso subsidiary to Nuplex Industries for €75M. The company is a leading manufacturer of polymer resins based in New Zealand and Australia. The transaction is still subject to the approval by the relevant antitrust authorities and the sale is expected to close by the end of the year.
The transaction includes Viverso GmbH, including all associated plants and assets and selected product groups that Viverso currently manufactures for companies of Bayer MaterialScience under a toll manufacturing agreement. Also included in the sale are the Viverso, Roskydal, Alkydal, Tungophen and Resistherm brands. All 165 employees will transfer with the business under the same conditions.
Viverso was established in 2008 with a specially developed business model centred around an internet-based, highly standardised distribution concept and is headquartered in Bitterfeld, Germany.