Israel Chemicals Buys Swedish Water Treatment Firm

BK Giulini, a subsidiary of Israel Chemicals, said on Monday its BKG Water Solutions division had bought Tiami Vattenkemi, one of Scandinavia's largest water treatment companies, to boost its presence in northern Europe.

Tiami, a privately held company founded in 1991, is based in Goteborg, Sweden, and provides industrial water treatment solutions, including chemicals, equipment and services. It also develops environmentally-friendly water treatment solutions.

Financial details were not disclosed.

"We intend to leverage Tiami's unique product range, strong distribution network and excellent service capabilities to boost our presence in Scandinavian countries," Eli Glazer, general manager of BK Giulini, said in a statement.

Charles Weidhas, CEO of ICL's performance products division, said the purchase was in line with the company's strategy to expand its offering for the industrial water treatment sector, a rapidly developing market that has been building momentum over the last few years.

"The acquisition of Tiami will position ICL as a leader in the water treatment industry in northern Europe," he said.

ICL, a fertiliser and specialty chemicals maker, is the world's sixth-largest producer of potash.