Italmatch Buys Solvay’s Phosphorus Additives
Italian performance additives producer Italmatch Chemicals is buying another business from Solvay, this time the Belgian group’s phosphorus-based process additives used in the mining, metalworking fluids, corrosion inhibition and pigmentation sectors. In January of this year, Italmatch purchased Solvay’s desalination and phosphonates and phosphonic acid-based water additives, followed in June by the acquisition of Compass Chemical International, a North American producer of phosphonates and additives for the water treatment and oil & gas markets.
The latest move adds Solvay’s Ionquest 290 and OPA-Rhodafac ASI and their respective patents, know-how and customer lists to the Italmatch portfolio. Both product lines will be manufactured at the additives specialist’s Arese, Italy, plant in the near future. CEO of Italmatch Chemicals, Sergio Iorio, said his company’s objective is to keep growing organically and through strategic mergers and acquisitions, consolidating its position in sectors where many of its specialty chemicals are applied.
The Genoa-headquartered player is majority owned by private equity investment firm Ardian, which bought Italmatch together with the company’s management in July 2014. It has annual sales of €340 million and operates six manufacturing plants in Europe, four in Asia-Pacific and one in the US.
