Manali Petrochemical Company Plans To Sell Its United Kingdom (UK) Polyurethane Elastomer Subsidiary Notedome To COIM
On October 20, 2025, Manali Petrochemicals announced its decision to sell its UK-based polyurethane elastomer subsidiary Notedome to the Italian specialty chemicals company COIM.
The transaction will be valued based on at least 8.5 times Notedome's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of £2.12 million, and will be conducted on a cash-free, debt-free basis with customary adjustments.
The board of directors of Manali Petrochemicals has approved the sale in a recent meeting, marking a significant strategic transformation for the company headquartered in Chennai, India.
Manali Petrochemical's wholly-owned overseas subsidiary AMCHEM SG will sell its entire stake in Notedome to COIM. This transaction is subject to shareholder approval. The parties are about to sign a binding share purchase agreement to finalize the terms of the transaction.
After the transaction is completed, Notedome and its subsidiaries will no longer be affiliated with AMCHEM SG and will terminate their relationship with the secondary subsidiaries of Manali Petrochemicals. This sale will bring substantial benefits to Manali Petrochemicals and demonstrates the company's commitment to restructuring its global business to enhance focus and profitability.
According to information disclosed on the official website, Notedome has been operating for over 45 years and is an industry-leading supplier of polyurethane systems. Notedome's flagship Neuthane™ series is widely used across various industries, including offshore renewable energy, oil and gas, paper and steel manufacturing, agriculture, mining and quarrying, construction, automotive, defense aviation, industrial engineering, and manufacturing sectors. Notedome's products primarily cover prepolymers designed specifically for cast polyurethane elastomers.
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