UK natural chemicals business Croda International has taken a 65% stake in Chinese firm Sichuan Sipo Chemical Co.
Sichuan Sipo Chemical Co, a non-listed natural specialty chemicals manufacturer based in Mianyang City, Sichuan Province, produces specialty derivatives from natural raw materials. Products include primary amides, novel fatty acids and specialty esters. In 2012, the business reported a turnover of £28m and EBITDA of £3.1m.
Croda paid £38.2m for the majority stake which will increase its presence in the emerging markets of Asia and strengthen its performance technologies operation. Sichuan Sipo Chemical Co has a state-of-the-art production facility which will extend Croda’s capacity and increase proximity to customers in the region. The acquisition will strengthen Croda’s existing operations across China and the group’s overall position in the ever-growing Asia region. All Sipo’s products will be sold through the Croda global sales network.
With a rapidly growing market for specialty chemicals in China, largely driven by rising domestic consumption, having proximity to customers not only at a national level but also at a regional level is key to penetrating this vast market.
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Altana AG has acquired the specialty coatings business of Henkel AG which includes the brands MiraFoil and Miracure. The acquisition is in line with Altana’s North American growth strategy and focus on innovative specialty chemicals.
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Tunap Group GmbH has acquired a 75% stake in Kemacos Full Filling Service GmbH, an Austrian full service provider to the cosmetics industry. The remaining 25% stake is still held by the Joachim Czech family.
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SPC Europe Ltd has acquired the assets of Iacp Jevsa SA, a Barcelona-based rubber compounder. The transaction secures the future of Jevsa, which has been in financial difficulties since 2008.
Croda International plc is to acquire a 65% stake in Sichuan Sipo Chemical Co Ltd, a natural speciality chemicals manufacturer based in Sichuan Province, China. The acquisition of Sipo will provide additional capacity and increase Croda’s proximity to customers in the region, strengthening its existing operations across China and the Group’s overall position in Asia.
Altana AG has acquired the clay based additives business of Rockwood Holdings Inc for a purchase price of $635m. The transaction is expected to close by the end of the year and is in line with Rockwood’s strategy to maximise shareholder value.
Picanol NV has acquired a 27.6% stake in Tessenderlo Chemie NV, a worldwide specialty company focused on food agriculture, water management and on valorising bio-residuals, from SNPE SA. With this acquisition the Picanol group wants to increase the diversity and geographical spread of its activities, in order to better protect itself against the cyclical weaving machine business in which it operates today.
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Christeyns NV has acquired Govi NV, a Belgian producer of process chemicals and predominantly focused on synthetic oils. The acquisition will strengthen the oleo chemicals operations at Christeyns.
Aalberts Industries NV has acquired GtO Slovakia sro, active in the field of surface treatment with one production facility near Roznava, Slovakia. GtO is already working closely together with Galvanotechnik Baum GmbH in Zwoenitz, Germany, acquired in 2011 and this further acquisition will enable greater expansion in the German and Eastern European growth markets.
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