Solvay sells its phosphorus-based process additives biz Italmatch

Solvay sells phosphorus-based process additives biz to Italmatch

11:42 AM, 19th September 2016
Solvay sells its phosphorus-based process additives biz to Italmatch

BRUSSELS, BELGIUM: Solvay SA said that it has sold its Ionquest 290 and octyl phosphonic acid product range business active in the production and marketing of phosphorus-based process additives for the mining, metalworking fluids, corrosion inhibition and pigmentation industries to Italmatch Chemicals.

With this sale Solvay satisfies all remaining obligations set forth by the European Union regarding the approval of its acquisition last year of Cytec Industries.

Solvay’s Ionquest 290 and octyl phosphonic acid product range business active in the production and marketing of phosphorus-based process additives for the mining, metalworking fluids, corrosion inhibition and pigmentation industries.

The acquisition involves the Ionquest® 290 and OPA-Rhodafac ASI product ranges, their respective patents, the know-how and the client portfolio of Solvay, a global chemical and advanced materials company based in Belgium.

The transaction falls into Italmatch Chemical’s growth strategy and follows the recent acquisition of Compass Chemical International, the most important North American independent chemical company specializing in the production and marketing of phosphonates and additives for water treatment and for the oil & gas market.

This acquisition strengthens Italmatch’s position in the industrial water & mining industries as well as in the MWF additives sector and it is the second acquisition involving Solvay’s business in these sectors.

The transaction will have positive effects in terms of investments (resources and plants) for Italmatch’s factory in Arese, where both acquired product lines will be manufactured in the near future’

“We have expanded our production range in two sectors, industrial water & mining process treatment and metal working fluids, and enlarged our applicative product portfolio in corrosion inhibition, where we have largely invested in the previous years, thus becoming an international reference point,” said Sergio Iorio, CEO of Italmatch Chemicals.

“Our objective is to keep growing organically and through strategic mergers and acquisitions, consolidating our positions in sectors where our many speciality chemicals are applied,” added Iorio.

Giovannelli Associati, with a team led by partner Fabrizio Scaparro, acted as legal counsel to Italmatch Chemicals.

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