Nuplex Industries has bought a German resin maker for 75 million euro to help boost sluggish earnings.
The resins and chemicals maker company is buying Bayer's Viverso operations in Bitterfeld, whose resins are used in coating and putties.
Nuplex says the business complements its European operations and makes it one of the top four resin manufacturers in the region.
The company says the purchase gives it greater access to the German industrial market and emerging central and eastern Europe.
But Nuplex warns trading conditions are forecast to slow slightly because customers remain cautious, while the the high New Zealand dollar is hurting earnings.
Excluding the Viverso purchase and a recent acquisition of Masterbatch, Nuplex is picking flat gross earnings of about $130.9 million for the June 2012 year.
