12 October 2012 13:08 [Source: ICIS news]
HOUSTON (ICIS)--Ecolab has agreed to acquire specialty chemicals firm Champion Technologies in a deal valued $2.2bn (€1.7bn), the US-based producer said on Friday.
The acquisition includes Champion’s related company, Corsicana Technologies.
“This transaction represents a rare opportunity to build on our position in a fast growing market by improving our geographic coverage and technology offerings,” said Ecolab CEO Douglas Baker.
“Champion’s technology and product strengths in the ?xml:namespace>
The transaction is expected to close by year-end.
Ecolab plans to pay for the acquisition through a mix of 75% cash and 25% stock, it said.
($1 = €0.77)
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