Nuplex buys PML

Nuplex has bought PML Holdings, an Australasian group of suppliers of chemical raw materials.

Nuplex paid $44 million up front in cash for PML, with an undisclosed additional amount to follow over the next 2 1/2 years conditional on the group achieving earnings and growth targets.

Nuplex said the owners and directors of PML would remain with the business.

PML has annual sales of almost $100 million and Nuplex said the purchase would immediately add to earnings per share.