Italmatch Chemicals, a Global Specialty Chemical Group, has announced that it has acquired Detrex Corp., a US company specialised, through its subsidiary The Elco Corp., in the production of high performance lubricant additives, for industrial applications and high purity hydrochloric acid.
The transaction follows the recent acquisitions of Sudamfos do Brasil, a Brazilian distribution company that specialises in marketing of phosphonates, phosphates and other special chemical products, as well as Compass Chemical International, a chemical company independent of North America, and a leader in the production and marketing of special additives for water and oil and gas treatment.
Sergio Iorio, CEO of Italmatch Chemicals Group, said: “ We are excited about this acquisition because we have known Elco, its products and management team for many years. Elco will bring highly complementary products and geo coverage, commercial and industrial synergies, as Italmatch is focused on EMEA/AP markets and Elco on NA/LATAM markets, with sales and organisational synergies in other regions. In addition, from a product portfolio point of view, Italmatch is a leader in special synthetic base stock and anti-wear additives, and Elco has a distinctive and very complementary position in EP additives and Ad-pack for grease and MWF.”
Thomas E. Mark, President and CEO of Detrex Corp., added: "The acquisition by Italmatch Chemicals represents for Detrex-Elco a great opportunity to be an essential part of an exemplary business model in the field of specialty chemicals. Elco and Italmatch Chemicals have the same high standards of production and have a very similar mission and overall corporate culture."
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/14122017/italmatch-chemicals-acquires-detrex-corp/