Italmatch Chemicals completed its latest acquisition last week, announcing that it closed its purchase of Jiayou Chemical from Ecolab Inc.
Jiayou, which is located in Changzhou, China, produces phosphonates used as corrosion inhibitors in lubricants and in water treatment.
The purchase comes on the heels of Italmatchs acquisitions of Elco Corp. in the United States, Sudamfos in Brazil and Compass in the U.S., all executed since June of 2016. All three companies are also involved in production of phosphonates for water treatment or lubricants.
After closing 2017 with important acquisitions in North and Latin America, we are happy to begin 2018 with a very significant agreement for Italmatch Chemicals in Asia-Pacific, Italmatch CEO Sergio Iorio said in a press release. Through this acquisition, Italmatch Chemicals achieves a global presence and a global market leadership in phosphonates, thanks to a new manufacturing presence in China.
Ecolab is a global leader in water, hygiene and energy technologies and services. The U.S.-based company did not own the Changzhou plant for long, having acquired it in 2015 as part of its purchase of Jianghai Environmental Protection Co.
Italmatch is based in Genoa, Italy, and produces chemicals used in the lubricants, water treatment, oil and gas and plastics industries.