Ube Corporation Europe, headquartered in Castellón, Spain and part of Japanese chemicals company Ube Industries Ltd today announced it has acquired a majority stake in Spanish compound manufacturer Repol SL. According to UCE, the shares were transferred in accordance with the terms of the share transfer agreement at the end of March.
UCE has provided no further details on the number of shares acquired or the agreed sale price.
Based in Castellón, Repol SL manufactures thermoplastic compounds based on polyamide 6 (PA6), PA66, polypropylene and polyacetal.
Suitable for both extrusion and injection moulding, the materials are mainly destined for the automotive, industrial and electrical components sectors.
The move, said UCE in a 9 April release, is in line with Ube's latest strategy, which identifies PA6 as an “active growth business”.
The company is currently strengthening its presence in the PA6 market for extrusion and expanding into the market for injection applications.