UK highly engineered advanced materials producer Luxfer Holdings PLC announced that it has agreed to purchase Canadian chemical manufacturing company Neo Performance Materials Inc. for $612 million.
The purchase contributes to Luxfer’s current product portfolio of high-performance engineered materials with rare earth and metal-based proprietary processes, products and technologies.
The acquisition also extends Luxfer’s access to Asian markets, expanding its customer base and creating a more direct path to buy raw materials.
The deal is expected to close during the second quarter of 2019, following regulatory clearances, shareholder recommendations and satisfaction of closing conditions.