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UPDATE: Plastiche SA to buy Bamberger Polymers

HOUSTON, March 29, 2018 (PCW) -- Plastiche SA has entered a definitive agreement to acquire Bamberger Polymers, a privately-held distributor of thermoplastic resins, the companies confirmed Thursday.

Luxembourg-based Plastiche is a private investment firm owned by the Roussis family, which also controls Ravago, another major distributor of thermoplastic resins.

Bamberger currently delivers more than one billion pounds of resins annually, while Ravago claims more than eight billion pounds of annual polymer sales.

Bamberger Polymers will operate completely separate and independent from current Roussis Family holdings, Plastiche said in a news release. "It will continue to be managed by the current senior management, with a newly named Board of Directors."

Authorities in Germany and Poland began reviews of the deal on March 21, 2018 according to their respective websites.

Regulatory clearance of the deal is expected within the next three months. The terms of the agreement were not disclosed. -- David Barry

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