Ecolab Inc. has acquired the paper chemicals business of Atlanta-based Georgia-Pacific, the company announced Friday.
The St. Paul-based company did not disclose how much it’s paying for the business, which uses chemicals to make paper softer and more durable, but that unit generated $43 million in revenue for Georgia-Pacific in 2016, Ecolab said. Georgia-Pacific is owned by Wichita, Kan.-based Koch Industries.
Ecolab will use this operation to grow its tissue and paper towel industry, the company said. The deal is expected to be completed at the end of the year.
With revenue of $13.15 billion in 2016, Ecolab is the ninth-largest public company in Minnesota when ranked by revenue.
By Nick Williams
Source: Minneapolis Business Journal
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
