Corrected: BWA seeks to boost sales to $300m

07 February 2008 00:39  [Source: ICIS news]

Correction: In the ICIS news story headlined “BWA seeks to boost sales to $300m” dated 6 February 2008, please read in the seventh paragraph … 25m m³/day currently to about 2m m³/day, while Libya’s capacity will jump from 0.15m m³/day to about 1m m³/day … instead of  … 0.25m³/day currently to about 2m³ /day by 2012, while Libya’s capacity will jump from 0.15m³/day to about 1m³/day …. A corrected story follows.

By Joseph Chang

NEW YORK (ICIS news)--US-based BWA Water Additives is seeking to boost its annual sales from $105m (€71m) in 2007, to around $300m by 2015, but growth could come more quickly through acquisitions, President and Chief Operating Officer Paul Turgeon said on Wednesday.

“We see strong growth in desalination and industrial water treatment, and expect sales to rise to $125m in 2008,” Turgeon said. “We are also actively looking for acquisitions of new technology platforms or businesses that can boost our geographic presence.”

Tucker, Georgia-based BWA is the former Chemtura water additives business, which was sold to UK-based private equity firm Close Brothers in May 2005.

The acquisition included all the manufacturing intellectual property of the business, but no production assets. However, BWA has significantly expanded its supplier base to a total of 17 suppliers in the US, Europe and Asia, to ensure secure and reliable supply, including continuing to source products from Chemtura facilities in Adrian, Michigan; and Trafford Park, UK.

The company sees Africa as a high growth region, especially for desalination for potable water, Turgeon said.

“Most desalination capacity is in the Middle East, but capacity will grow the fastest in Algeria and Libya over the next five years, driven by industrialisation and population growth,” said Turgeon.

Algeria’s desalination capacity will grow from around 0.25m m³/day currently to about 2m m³/day by 2012, while Libya’s capacity will jump from 0.15m m³/day to about 1m m³/day by 2012, according to BWA.

BWA’s water additives include antiscalants, corrosion inhibitors and microbiocides. The company has a global market share of 60-65% of the thermal desalination market and 10-15% of the membrane desalination market.

($1.00 = €0.68)

By: Joseph Chang
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