Kurita to buy ICL's water treatment, chemicals arm for 250 mln euros
26/10/2014 20:19
Oct 26 (Reuters) - Japan's Kurita Water Industries Ltd
6370.T agreed to buy APW, the water treatment business owned
by Israel-based manufacturer ICL Israel Chemical Ltd ICL.TA
for 250 million euros, the companies said on Sunday.
The transaction, expected to be completed by the end of the
year, will help Kurita expand into European markets and also
fits with ICL's plan to spin off non-core assets, the companies
said in a statement.
"Combining Kurita's existing customer base, which is mainly
in Japan and the Asia region, with APW's customer base, will
further strengthen Kurita's overseas business platform," said
Kurita President Toshiyuki Nakai.
APW, the aluminum, paper chemicals and water treatment
business that was part of ICL's Performance Products arm, is
based in Ludwigshafen and Dusseldorf, Germany.
The transaction will also include other ICL Performance
Products entities in Europe and China, the statement said.
(Reporting by Edward McAllister in New York; Editing by Jeffrey
Benkoe)
((edward.mcallister@thomsonreuters.com; 646 223 6221; Reuters
Messaging: edward.mcallister.reuters.com@reuters.net))
Keywords: KURITA ICL/ACQUISITION