MOSCOW (MRC) -- Italmatch Chemicals Group, an Italian-based diversified speciality chemicals group owned by the private investment company Ardian, has agreed to acquire the desalination and phosphonates and phosphonic acid-based water additives business of Solvay, said Italmatch on its site.
No terms were disclosed. The deal should be completed within January.
The company said that this is consistent with its growth strategy in water treatment, where it supplies additives under the Dequest brand. It follows one year after the takeover of Naples-based GRS Chemical Technologies, which makes low and high molecular weight polymers and fuel additives. Italmatch is also active in performance additives for lubricants, oil treatment and plastics, notably flame retardants.
"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," said CEO Sergio Iorio.
Solvay has been through a major transformation in the past months, with the acquisition of Cytec Industries. It is also rumoured to be selling its polyamide business.
Solvay S.A. is a Belgian chemical company founded in 1863, with its head office in Neder-Over-Heembeek, Brussels, Belgium. The company has diversified into two major sectors of activity: chemicals and plastics. Solvay supplies over 1500 products across 35 brands of high-performance polymers - fluoropolymers, fluoroelastomers, fluorinated fluids, semi-aromatic polyamides, sulfone polymers, aromatic ultra polymers, high-barrier polymers and cross-linked high-performance compounds.
MRC