Synthomer (LSE:SYNT) confirmed the completion of its divestment of Synthomer a.s., the operating company for its Acrylate Monomers business in the Czech Republic, on the terms announced on 19 June.
The London-listed speciality chemicals group had classed the business, based in Sokolov, as a discontinued operation in its interim results for the six months to 30 June, reported on 4 August.
Those results showed continuing-group revenue of £954.3m for the first half, up 5.1% in constant currency, with EBITDA rising 16.4% to £96.7m and the full-year outlook upgraded to slightly ahead of market expectations.
The Acrylate Monomers sale to Mutares & Co. KGaA was structured with no upfront cash beyond working capital transferred to the buyer, with Synthomer eligible for up to €12m over three years depending on post-sale performance.
It marks the fourth non-core disposal Synthomer has completed since its October 2022 strategic review, with three further divestment processes still under way as the group continues to sharpen its focus on speciality polymers.