Change is afoot at Revolymer (REVO). The chemicals specialist has announced its intention to expand into the US via the acquisition of fellow polymer company Itaconix. It is also looking to launch its nicotine gum - currently only sold in Canada - in Europe, via a product for equity transfer with a European marketing company.
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Expansion through acquisition was a strategy set out at the year-end results, but despite the group having £10.5m of cash at this point, it will need to return to investors to raise a further £4m to help fund the $7m cash and shares based acquisition of Itaconix. Institutional investors Woodford and IP Group have already pledged their support for this.
