7 minute read
Linking up Combining strengths
NEWS
Combining strengths
URALCHEM and Riga Commercial Port to build new terminal on the Baltic Sea
Riga City Council has issued a permit for the construction of a terminal for the handling and storage of fertilisers − a joint project between URALCHEM Freight Limited (part of the URALCHEM holding) and Riga Commercial Port (RTO, Riga, Latvia). The total investment level will amount to about $70 million. The launch of the first phase with a capacity of two million tons per year is planned for the third quarter of 2013.
For the purposes of implementing the project, the two companies set up Riga Fertiliser Terminal Limited, 51% of which belongs to the URALCHEM holding company and 49% to RTO. Currently the design stage of the project is nearing completion. Construction work is scheduled to begin in September 2011. The facility will occupy 12 hectares of the territory of Free Port of Riga.
The terminal will be built using latest technologies and the transshipment and storage of fertilisers will be made in enclosed facilities, providing environmental protection and safety for the residents of Riga. Visit: www.uralchem.com AkzoNobel plans to further strengthen its leadership position in speciality surfactants while enhancing its manufacturing footprint in Asia by acquiring Boxing Oleochemicals. Boxing is the leading supplier of nitrile amines and derivatives in China and throughout Asia.
Boxing’s activities will be integrated into AkzoNobel’s Surface Chemistry business, a global leader in the manufacture and supply of speciality surfactants, synthetic and bio-polymers additives, used as formulation ingredients and process aids in many applications ranging from home and personal care to asphalt road paving.
“This is an excellent opportunity which couples with our strategic ambition to accelerate growth in Asia with our commitment to locate production closer to our customers,” said Rob Frohn, AkzoNobel’s executive committee member responsible for Speciality Chemicals. “Boxing’s leading market position in amines will complement AkzoNobel’s growing specialty surfactant business in Asia.” Visit: www.akzonobel.com
AkzoNobel to acquire Boxing Oleochemicals
EADS acquires Vizada for its Astrium Division
Astrium, an EADS subsidiary, has entered into an agreement to acquire Vizada from Apax France, a French Private Equity fund and the majority shareholder, for $960 million.
Vizada is a leading independent provider of global satellite-based mobility communication services, serving customers across sectors including maritime, aero, land, media, NGO (non-governmental organisations) and government/defence. Via all satellite network operators, it offers mobile and fixed connectivity services both directly and through a distribution network of over 400 re-sellers. Vizada is present in five continents with over 700 employees.
EADS cief strategy and marketing officer Marwan Lahoud said: “Further to the recent acquisitions of Vector Aerospace in Canada and Metron in the US, as well as the ongoing public offering for Satair in Denmark, this acquisition marks a further step towards the realisation of EADS’ Strategy to balance platforms with services, develop business in North America and diversify its workforce.” Visit: www.eads.com
BASF and CSM explore a bio-based succinic acid joint venture
BASF SE and Purac, a subsidiary of CSM n.v., have announced the start of negotiations to form a joint venture for the production of bio-based succinic acid. The companies have been conducting research under a joint development agreement on bio-based succinic acid since 2009. “Until now our partnership has been very successful, and moving towards a joint venture will strengthen our goal to become the leading supplier in the succinic acid market,” said Dr Andreas Kreimeyer, member of the board of executive directors and research executive director of BASF.
The newly developed process combines high efficiency with the use of renewable substrates and the fixation of the greenhouse gas CO2 during the production. This makes bio-based succinic acid an economically and ecologically attractive alternative to petrochemical substitutes. Visit: www.basf.com
Bosch to take over Unipoint Group Taiwan
The Bosch Automotive Aftermarket division is set to take over the Unipoint Group, as well as its affiliated companies and the Unipoint and NSA brands. The company is a key producer of starters, alternators, temperature control parts and wiper blades for the aftermarket. In 2010, the Unipoint Group achieved sales of USD 124 million. It currently employs around 2360 people at two production locations in mainland China and Taiwan as well as various sales locations.
The Bosch Automotive Aftermarket division has acquired the Unipoint Group with the intention of strengthening its position as the leading supplier of starters and alternators, and also views it as an investment in the temperature control product segment. In addition, it adds another Asian production base to the wiper blade business unit. “Our aim is to further strengthen the position of Bosch as the leading supplier of starters, alternators and wiper blades in the automotive aftermarket,” said Robert Hanser, chairman of the divisional board of the Automotive Aftermarket Division. Visit: www.bosch-autowmotive.com
LINKINGUP
Kerry Logistics, a leading provider of freight and logistics services, has acquired two freight forwarding companies in the UK: Bergen Freight Forwarding Limited based in Manchester in the North West of England; and Regency Forwarding Limited with its headquarters in Yorkshire.
Bergen is a long established company, specialising in sea freight imports from India and the Far East which will help to strengthen Kerry Logistics’ freight forwarding capabilities in the UK and Europe. Regency was established in 1979 and has its main office in Yeadon near Leeds Bradford Airport. The company offers airfreight, sea freight and international trailer movements for both imports and exports. Regency focuses on imports from the US and Asia and exports to international destinations.
“Bergen and Regency will strengthen the Kerry Logistics’ network in the UK and across Europe as well as extending our reach into the UK’s major manufacturing regions in the North of England,” said Gary Wilcock, managing director, Europe. Visit: www.kerrylogistics.com
Heidelberg acquires CSAT GmbH
Heidelberger Druckmaschinen AG (Heidelberg) has acquired CSAT GmbH, based in Eggenstein near Karlsruhe, Germany. The company specialises in the development, manufacture and worldwide sales and service of digital printing systems, including consumables for the packaging industry. This takeover expands the existing digital print portfolio of Heidelberg for the packaging sector and widens its customer base in this market segment.
“Acquiring CSAT GmbH is in line with the digital print strategy of Heidelberg. Parallel to our digital print activities in advertising printing, we are expanding our portfolio for the cost-effective production of short and variable print runs in packaging and label printing,” says Stephan Plenz, member of the Heidelberg management board responsible for the Heidelberg Equipment division. Visit: www.heidelberg.com
Sulzer has acquired Cardo Flow Solutions, one of the leading suppliers of pumps and related equipment in the wastewater market. Headquartered in Malmö, Sweden, Cardo Flow Solutions is a full-line supplier of pumps and related equipment such as lifters, mixers, aerators, compressors, control and monitoring equipment and services for the wastewater market which accounts for around 90% of sales.
With this acquisition, Sulzer enters the highly attractive wastewater pump market and will become a leading player in it. In addition, Sulzer further strengthens its global position as a supplier of pumps and related services in the general industry, including the pulp and paper industry.
The acquisition creates a strong platform for further growth, driven by global geographic expansion and continued technological development of complete pumping solutions, good aftermarket opportunities by leveraging Sulzer’s existing service network, and cross-selling opportunities with the combined product offering. The acquired businesses will be fully integrated in Sulzer Pumps and the initial phase of the integration process is expected to take about nine months. Visit: www.sulzerpumps.com
Imerys completes acquisition of Luzenac Group
Imerys has completed the acquisition of 100% of the Luzenac Group from Rio Tinto. With sales of approximately USD 395 million in 2010, Luzenac Group is the world leader in talc processing. This mineral is used in many technical applications such as polymers, paints, ceramics and paper, in a wide range of end markets (industrial equipment, construction and consumer goods etc.). It will therefore strengthen Imerys’ leadership and product offering.
This acquisition has been paid in cash for an enterprise value of USD 340 million (€232 million), representing a multiple of EBITDA in line with historical multiples paid by Imerys. Luzenac Group will be part of the Performance & Filtration Minerals business group and will be fully consolidated as of 1 August 2011. Current market conditions prevailing, this transaction is expected to create value by achieving a return on capital employed above the group’s weighted average cost of capital from 2013 onwards. Visit: www.imerys.com
