Spano Group acquires Dynea Ghent
Spano Group struck a deal with the Finnish adhesive and impregnating resin producer Dynea Chemicals to acquire its adhesive resin plant in Ghent, which does business as Dynea N.V. Negotiations were wrapped up at the end of May after lasting several months. The parties put pen to paper on 1 June 2012; the transaction closed on the same day. Spano has bought all shares in Dynea N.V. and retained all of the 21 people working at the facility in this share deal. Spano said that Dynea’s plant in Ghent generated revenues of €36m last year; the company did not release earnings information for 2011.