International Chemical Investors Group (ICIG) today announced the acquisition of the European Advanced Organics business from Valtris Specialty Chemicals. The acquisition includes production plants in Tessenderlo (Belgium) and Maastricht (the Netherlands) as well as the benzyl chloride and derivatives portfolio manufactured at those sites. The Advanced Organics business joins Vynova Group, the chlor-vinyls platform of ICIG, and has been renamed Vynova Advanced Organics.
The product portfolio of the acquired Advanced Organics business consists of a wide range of chlorinated toluenes and derivatives, key chemical intermediates used in a large number of markets such as coatings, flavour & fragrance, personal care, agrochemicals, and pharmaceutical applications.
The acquired Advanced Organics business operates two production units for benzyl chloride and derivatives in Tessenderlo (Belgium), where it employs around 90 people. Another manufacturing plant, with about 30 employees, is located in Maastricht (the Netherlands) and produces benzyl alcohol. The acquisition excludes Valtris’ North American production of benzyl chloride in its Delaware River Plant, which will continue as part of Valtris Specialty Chemicals.
Vynova Group already has a strong presence in Tessenderlo, where Vynova Belgium, the group’s largest production site and corporate headquarters, is based. Vynova Belgium and the Advanced Organics plants in Tessenderlo and Maastricht also have a long shared history: until 2015 the entities all fell under the same ownership. As a result, the Tessenderlo Advanced Organics assets are strongly interlinked with Vynova Belgium. They are located on the same premises and the Advanced Organics units use chlorine from Vynova Belgium’s electrolysis unit as a key raw material to produce benzyl chloride and derivatives.
“This strategic acquisition allows us to achieve forward integration, incorporating the benzyl chloride and derivatives that are manufactured with the chlorine we produce into our product portfolio. This enables us to be a strong and reliable supplier to the many customers and markets the Advanced Organics business serves,” comments Johan Van Den Broeck, Executive Vice President Commercial at Vynova Group.
Simon Medley, CEO Valtris Specialty Chemicals, commented: “We are pleased to have found a strategic fit for the European Advanced Organics business and assets, which is in the best interests of our employees, customers and suppliers. This allows Valtris to focus on the core of its portfolio as a global leader in specialty performance additives.”
“We are happy to welcome our colleagues from the Tessenderlo and Maastricht plants back to the group,” adds Vynova Group COO Henk Veldink. “In addition to the operational and commercial synergies that this acquisition offers, it also further anchors our activities in Tessenderlo.”
Source: vynova-group.com
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