Sector News

Kurita to buy ICL’s water treatment, chemicals arm for $317 million

October 27, 2014
Chemical Value Chain
(Reuters) – Japan’s Kurita Water Industries Ltd (6370.T) agreed to buy APW, the water treatment business owned by Israel-based manufacturer ICL Israel Chemical Ltd (ICL.TA) for 250 million euros ($316.94 million), the companies said on Sunday.
 
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 Kurita President Toshiyuki Nakai.
 
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.
 
(Reporting by Edward McAllister in New York; Editing by Jeffrey Benkoe)

comments closed

Related News

May 21, 2022

Sika opens new manufacturing plant in Bolivia 

Chemical Value Chain

Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.

May 21, 2022

Chevron increases renewable fuel market share with REG acquisition

Chemical Value Chain

Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.

May 21, 2022

Lotte Chemical to invest $8 bn on hydrogen energy, battery materials by 2030

Chemical Value Chain

Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.