Nagase America announced today that it has acquired US-based specialty chemicals distributor Fitz Chem Corporation.
This acquisition advances the strategy of the NAGASE Group (NAGASE) for growth in the specialty chemicals market in the United States. It is a step towards implementing Nagase America’s vision of becoming a leading national specialty chemical distributor, and activities for integration will start immediately. Fitz Chem, as a wholly owned subsidiary of Nagase America, will continue to conduct business under the “Fitz Chem” name as Fitz Chem LLC.
Fitz Chem Corporation is a successful specialty chemical distributor, with over $60 million in revenue, focused on the coatings, adhesives, sealants, and elastomer (CASE) markets, as well as the plastics and personal care markets. NAGASE is the leading supplier to these markets in Japan with a broad portfolio of both distributed products and proprietary products manufactured by NAGASE. NAGASE also has a growing presence in China, Southeast Asia, India, the Middle East, and other areas.
“This acquisition allows NAGASE to combine its technical expertise and existing supplier and customer relationships with those of Fitz Chem, creating opportunities for sustained growth in the U.S. market,” said Bradley Hilborn, director of sales & marketing at Nagase America. “Both organizations are committed to helping suppliers and customers exceed their goals.” Additionally, both NAGASE and Fitz Chem share common visions and values, which became a driving force for the acquisition.
“Continuity was extremely important to our Fitz Chem management team,” said Robert Becker, chairman of Fitz Chem. “We wanted a long-term partner that focused on providing growth opportunities for our employees, one that would not create any conflicts for our suppliers, and lastly one that would provide additional resources to assist our customers in growing their businesses. In teaming with NAGASE, we strongly believe we will be able to achieve these objectives. It truly is incredibly thrilling to join forces with a company like NAGASE and create a win-win-win for our employees, customers and suppliers. NAGASE and Fitz Chem’s values and passion to succeed are unequivocally aligned.”
This acquisition is expected to bring opportunities for suppliers from both companies to benefit from their combined network. This will build on NAGASE’s presence in 22 countries with Fitz Chem’s strong reach in the Midwest region of United States. NAGASE also offers a variety of value-added services, such as a coatings and plastics application lab. This lab can be utilized by Fitz Chem’s suppliers and customers for raw material analysis as well as application and formulation development.
Nagase America will continue exploring opportunities for growth in the U.S. market, both organic and through acquisitions, to strengthen its position as a national specialty chemical distributor.
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?