18 July 2011 18:39 [Source: ICIS news]
HOUSTON (ICIS)--HIG Capital’s European arm has acquired Germany-based hydrocarbon chemicals producer Haltermann Products from US Dow Chemical, HIG said on Monday.
Haltermann operates two production sites, in Hamburg and Speyer, where it generates more than €150m/year ($213m/year) in revenue, HIG said.
The acquisition price was not disclosed.
The plants make refinery products for use in graphic arts, plastics processing, automotive, pharmaceuticals, fine chemicals, electronics, cosmetics and coatings, HIG said.
Haltermann specialises in test and reference fuels for the automotive industry and in hydrocarbons used in the pharmaceuticals and electronics sectors.
HIG said it will focus on growth outside its core German market as well as the extension of the company’s product portfolio. The Haltermann business will be headed by Uwe Nickel, formerly a board member of Clariant.
($1 = €0.71)
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