Sector News

Buckman announces acquisition of CiDRA Chemical Management

October 4, 2017
Chemical Value Chain

Buckman has released a statement announcing the acquisition of CiDRA Chemical Management Inc. (CCMI) – a wholly owned subsidiary of Connecticut-based technology innovation company CiDRA Holdings Inc.

Buckman claims that it took ownership of CCMI’s outstanding stock on 30 September. For the last 20 years, CiDRA has been involved in the manufacturing and processing arena by creating new tech and data driven measurement and management solutions for commercial markets, including mining, oil and gas and genetic laboratories.

As part of the transaction, Buckman will attain a global, exclusive, and perpetual license to a range of CCMI’s intellectual property, including patents for measuring entrained air in the paper, pulp, biorefining, bioprocessing and ethanol industries. This technology is non-intrusive and provides real-time continuous data. Installation also does not require any downtime. Most importantly, however, the data it provides allows manufacturers to decrease the amount of variability in certain aspects of their manufacturing process.

Jim Doan, President and COO of Buckman North America, said: “Buckman strives to be a leader not just in bringing products and knowledge to our customers around the globe, but in partnering with our customers to proactively improve their operations.

“With the addition of CCMI’s entrained air technology, we are able to provide a smart solution that results in more accurate data and better process control for our customers.”

In addition to the exclusive rights to offer the products to the paper, pulp, biorefining, bioprocessing and ethanol industries, Buckman claims that will also be capable of offering these solutions non-exclusively to the oil and gas, automotive, metalworking and paints and coatings industries. Curent CCMI employees will also become part Buckman, and will be integrated into its existing workforce. Buckman claims that sales of the entrained air technology will begin with customers in North America, with global sales to follow afterwards.

Junai Maharaj, the CEO and President of Bulab Holdings Inc., which wholly owns Buckman, said: “The acquisition of CCMI is very much in line with the vision for the future of Buckman.

“We are a privately-owned company with a global footprint, and our size affords us the agility and ability to quickly adopt innovative, smart solutions for our customers. But the real value comes from being able to leverage smart technology with our proven chemical applications, advanced monitoring systems and dedicated, experienced people to deliver a solution specific to the customer that improves their operations, productivity and performance.”

Kevin Didden, President and CEO of CiDRA, added: “Buckman is an organisation that can rapidly expand the global reach of the innovative CiDRA solution via its worldwide footprint.

“We are very excited to support Buckman in this new endeavor and look forward to a long-term partnership. Buckman has the values, capabilities and leadership that CiDRA felt were critical to take the CiDRA solution to a global level.”

Source: World Fertilizer

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