Kurita Water Industries buying ICL’s water treatment business €250 million

Kurita Water Industries to buy ICL’s water treatment business

11:50 AM, 27th October 2014
Kurita Water Industries buying  ICL’s water treatment business for €250 million

NAKANO, TOKYO: Japan’s Kurita Water Industries Ltd agreed to buy APW, the water treatment business owned by Israel-based manufacturer ICL Israel Chemical Ltd for €250 million ($316.94 million). The transaction, expected to be completed by the end of the year, will help Kurita expand into European markets and also fits with ICL’s plan to spin off non-core assets, the companies said in a statement.

“Combining Kurita’s existing customer base, which is mainly in Japan and the Asia region, with APW’s customer base, will further strengthen Kurita’s overseas business platform,” said Toshiyuki Nakai, President, Kurita.

APW, the aluminum, paper chemicals and water treatment business that was part of ICL’s Performance Products arm, is based in Ludwigshafen and Dusseldorf, Germany. The transaction will also include other ICL Performance Products entities in Europe and China, the statement said.

 

© Reuters News 

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