Synthomer Licenses Polyester Resin Technology to BATF Joint Venture in China

Synthomer signed a strategic partnership agreement with BATF Group on November 13, 2026 to establish a joint venture in China for coalescing agents and high-performance polyester resins for powder coatings. Indianchemicalnews reported that Synthomer will license its polyester resin technology and know-how to the venture and take a minority stake.

How the BATF Joint Venture Is Structured

The proposed joint venture will carry out research and development, production and sale of coalescing agents and high-performance polyester resins for powder coatings. It combines Synthomer's advanced materials technology and application expertise with BATF's manufacturing capabilities, supply chain network and operational strength.

Synthomer will license its polyester resin technology and know-how to the JV company and acquire a minority stake in the venture. The deal remains subject to customary closing conditions, including regulatory approval in China. The companies will collaborate across technology, manufacturing, market development and operations.

Gong Yanglong, Chief Executive Officer of BATF Group, said: "Our strategic cooperation with Synthomer marks an important step in BATF's commitment to open collaboration and global expansion." Michael Willome, Chief Executive Officer of Synthomer, said: "Our partnership with BATF will represent a significant milestone in Synthomer's strategy to expand its presence in high-growth specialty coatings markets and in China, a key region for exponential growth."

The partnership is designed to strengthen both companies' global customer reach while accelerating the development and supply of speciality chemical solutions. The move comes as the global coatings industry accelerates its shift towards water-based and low-VOC technologies. Coalescing agents and high-performance polyester resins influence film formation, mechanical strength, durability and environmental characteristics.

Synthomer's Scale Behind the Coatings Deal

According to akta.pro company records, Synthomer reported continuing operations revenue of £1.7 billion for 2025 and EBITDA of £137 million. Net debt stood at £575 million at the end of 2025. The same records list a 2024 post-IPO debt round of $380.1 million.

Synthomer's Earlier Portfolio Moves

Synthomer completed the sale of its Czech acrylate monomers unit, Synthomer a.s., in line with terms announced on June 19, 2026, Investing.com reported. The company had classified the business as a discontinued operation in its interim results for the six months ended June 30, 2026.

In August 2026, Synthomer reported first-half revenue up 6.7% to £954.3 million and underlying operating profit up 41.7% to £48.6 million, Sharecast.com reported. In February 2026, Synthomer entered a strategic partnership with Godavari Biorefineries Limited to develop and commercialise bio-based alternatives to fossil-based monomers, starting with bio-based butyl acrylate from bio-based butanol, according to akta.pro company records.

Regulatory Approval in China

The BATF agreement remains subject to customary closing conditions, including regulatory approval in China, the companies said.