Kurita to Acquire ICL's Chemical Treatment Arm
Published on by Water Network Research, Official research team of The Water Network in Business
Japan's Kurita Water Industries LtdAgreed to buy APW, the Water Treatment Business Owned by Israel-based Manufacturer ICL Israel Chemical Ltdfor 250 Million Euros
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.
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