Italmatch buys Solvay desalination and additives businesses
Speciality chemicals firm, Italmatch Chemicals Group, has acquired Solvay's desalination, phosphonates and phosphonic acid-based water additives business for an undisclosed sum.Italmatch is involved in the production and marketing of performance additives for various sectors, such as lubricants, water and oil treatment, as well as plastics, and with the latest deal the company aims to boosts its presence in the water management additives business segment.
Under the deal, all the products, trademarks, patents and client base of Solvay's desalination business as well as phosphonates and phosphonic acid-based water additives business will be transferred to Italmatch.
The deal is expected to be completed by the end of this month.
Italmatch Chemicals Group chief executive officer Sergio Iorio 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.
"The signed agreement proves our commitment in pursuing a strong expansion strategy through not only internal growth, but also strategic acquisitions,' he added.