Italmatch bolsters water chemical business with Solvay buy
Belgian chemicals company Solvay has sold off its desalination, phosphonates and phosphonic acid water additives business to Italian firm, Italmatch Chemicals Group...
Belgian chemicals company Solvay has sold off its desalination, phosphonates and phosphonic acid water additives business to Italian firm, Italmatch Chemicals Group.
The agreement covers the acquisition of all products, trademarks, patents and client portfolio from the division of the Belgian chemicals group, which boasts a 30-year experience in phosphonate-based technology as well as other chemistries.
This transaction is consistent with Italmatch Chemicals Group’s growth strategy, to further strengthen the company’s position as a global supplier of water management additives.
It comes one year after the takeover of Naples-based GRS Chemical Technologies in December 2014.
The transaction is expected to close by the end of January 2016.
Sergio Iorio, chief executive officer of Italmatch Chemicals Group, said: “Thanks to this agreement, we will be able to expand our water management additives product range and enter into new market segments, such as the Middle Eastern thermal desalination markets, exploiting Solvay’s long-standing experience and know-how in the field, combining and leveraging upon Italmatch expertise in reverse osmosis plants.”
Italmatch Chemicals generates 280 million euros in revenue and operates through six manufacturing plants in Europe (Italy, Spain, Germany and UK) and four in Asia Pacific (China and Japan).