ICIG Acquires European Advanced Organics Business from Valtris
International Chemical Investors Group (ICIG) has acquired the European Advanced Organics business from Valtris Specialty Chemicals. The transaction includes production plants in Tessenderlo, Belgium, and Maastricht, the Netherlands, as well as the benzyl chloride and derivatives portfolio manufactured at those sites.
The acquired business will join Vynova, ICIG’s chlor-vinyls platform, 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, flavor & fragrance, personal care, agrochemicals, and pharmaceutical applications.
Vynova Belgium, the group’s largest production site and corporate headquarters, are based in Tessenderlo.
The acquisition, ICIG said, excludes Valtris’ North American production of benzyl chloride in its Delaware River Plant, which will continue as part of Valtris Specialty Chemicals.
“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,” said Johan Van Den Broeck, executive vice president Commercial at Vynova.
Simon Medley, CEO of Valtris Specialty Chemicals, added: “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.”
