Atlanta, Georgia (News release) -- Bakelite Synthetics is pleased to announce the completion of its previously announced acquisition of Georgia-Pacific's chemicals business ("Georgia-Pacific Chemicals").

With this acquisition, and after over 100 years of development through legacy companies as a global phenolics leader, Bakelite Synthetics adds to its strong portfolio of products, brand and customers, as well as building on its growth strategy of delivering innovative solutions to customers in a sustainable manner. Georgia-Pacific Chemicals brings with it complementary resin and formaldehyde technology and end markets in the building materials, transportation, industrial, chemical intermediate and specialty resins space. This acquisition includes 11 chemical facilities employing approximately 600 people in the U.S. and South America.

"We are excited about the opportunities that will result from the combined strengths of the two companies," said JP Aucoin, CEO of Bakelite Synthetics. "This acquisition enables us to deliver greater value to our customers through a broader product offering and expanded geographic reach. It also enables us to deliver on significant organic growth with the strong tailwinds in U.S. residential construction. Lastly, we look forward to welcoming Georgia-Pacific Chemicals' associates to Bakelite Synthetics as we bring both organizations together with a rich history of customized product development and customer service."

The company's new headquarters will be based in Atlanta, Georgia, and the combined company will consist of approximately 1,500 associates and 21 manufacturing sites operating in 10 countries.

About Bakelite Synthetics

Based in Atlanta, Georgia, Bakelite Synthetics is a leading global integrated producer of thermoset specialty resins, solutions and engineered thermoset molding compounds serving a variety of segments and end markets across geographies. Additional information about Bakelite Synthetics and its products is available at www.bakelite.com.