Located in the town of Kazincbarcika in Northern Hungary, Framochem employs more than 100 people and operates six multi-purpose production lines at its plant.
"Like VanDeMark, Framochem has extensive experience in the implementation of batch and continuous processes both on laboratory and industrial scales," said Gyorgy Emri, Managing Director, Framochem. "Having VanDeMark add to our capability in Europe, as well as applying Framochem expertise in North America will benefit all of our customers in terms of product quality, reliability and delivery."
VanDeMark, which has produced phosgene and phosgene derivatives since 1951, offers a range of more than 30 chemical compounds used in the production of paints and coatings, pharmaceuticals, plastics and polymers, adhesives and sealants, agricultural products and other end markets. The company employs approximately 90 people at its plant.
Erik S. Miller, the Uni-World partner who spearheaded the acquisition, said, "There is tremendous synergy in bringing together the expertise and capabilities of VanDeMark and Framochem to share best practices for technologies employed. This combination strengthens our research and development in phosgene chemistry, and enhances the reliability of our supply chain to serve customers in a global marketplace."
To finance the Framochem acquisition, Uni-World secured senior debt financing from
Madison Capital Funding and Sumitomo Mitsui Banking Corporation, as well as mezzanine financing from Prudential Capital Group.
In addition, VanDeMark is raising new equity capital to fund the acqui
|SOURCE VanDeMark Chemical Inc.|
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