Global specialty chemical company Italmatch Chemicals, maker of performance additives for water treatment, oil and gas, lubricants and plastics, acquires Jiayou Chemical from Ecolab Inc. The deal includes Jiayou Chemical Company’s entire business and assets related to phosphonate production and sales in the Changzhou area of China.
The transaction allows Italmatch Chemicals to strengthen its presence in the Asia Pacific region with a new plant specializing in the production of phosphonates, according to the company. The new site complements the company’s other dedicated plants in North America and Europe.
"After closing 2017 with important acquisitions in North and Latin America, we are happy to begin 2018 with a very significant agreement for Italmatch Chemicals in Asia Pacific,” says Sergio Iorio, CEO, Italmatch Chemicals Group. “Today, China represents a fast-growing market, especially in industrial water and process water treatment, characterized by higher quality and high environmental standards, in line with the Central Government’s objectives to elevate environmental standards of chemical companies, which are fully aligned with Italmatch Chemical’s strategic objectives in the Asia Pacific region.”
Maurizio Turci, CFO, corporate affairs and human resources director, Italmatch Chemicals Group, adds, "We have believed and invested in China ahead of the curve in the early 2000s and intend to continue investing here in the future, thanks to the excellent relations with the local financial authorities. We have developed a high-quality growth model in this country, combining industrial corporate practices and respect for local communities, as a means for transforming short-term efforts with sustainable and effective long-term company solutions for expansion in China.”
For more information, visit: www.italmatch.com