04 July 2008 12:52 [Source: ICIS news]
MUMBAI (ICIS news)--Germany-based Sud-Chemie has agreed to purchase the foundry chemical production facilities of AlzChem Hart, a member of Evonik Industries, the catalysts and adsorbents manufacturer said on Friday.
The company refused to divulge the purchase price details for the facilities located at Hart in Germany’s Upper Bavaria as the acquisition was yet to receive the approval of antitrust authorities.
The purchase includes the production of metallurgical specialty chemicals for the foundry industry, mainly for iron castings used in the automobile sector, it said.
"The acquisition will enable us to optimise these specialised products to meet individual customer demands and in this way strengthen our leading position as a full service provider of specialty products for the foundry industry in Europe," Süd-Chemie managing board chairman, Gunter von Au said.
Around 140 employees from AlzChem will be integrated into SKW Giesserei, a wholly-owned Sud-Chemie subsidiary, the firm said.
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