05 December 2012 17:18 [Source: ICIS news]
HOUSTON (ICIS)--Univar has agreed to acquire Texas-based custom chemical manufacturer and blender Magnablend for an undisclosed sum, the international chemicals distribution major said on Wednesday.
In oil and gas, Magnablend focuses on chemicals such as guar gum slurries, cross linkers, breakers, and buffers.
"The acquisition of Magnablend is an important step forward in Univar's continued focus on the rapidly-growing North American oil and gas market," said Univar CEO Erik Fyrwald.
"Magnablend's geographic position at the heart of current and developing shale basins allows us to offer a comprehensive suite of products and services to meet increasing customer demand," Fyrwald added.
Univar said that under the "definitive agreement" it signed with Magnablend the acquisition is expected to be completed by the end of the year.
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