Innospec Inc. announced on December 30 that it has completed the acquisition of the European Differentiated Surfactants business from Huntsman in line with the agreement announced in August.
The business is currently managed from Belgium, and has manufacturing assets in France, Italy and Spain. With sales revenues of around $230 million, the business employs approximately 430 people. Innospec will integrate the acquisition into its Performance Chemicals business. The chemistries and products that the acquisition bring are entirely complementary to Innospec’s existing portfolio offering formulators both choice and expertise across the range of personal care and home care surfactant technologies.
Patrick S. Williams, President and CEO of Innospec Inc. said: “We are very pleased that the acquisition has been completed, and in a relatively short time for such a complex project. This delivers on our commitment to build a larger Performance Chemicals segment and creates a balanced portfolio of strategic businesses under Innospec’s ownership. We enter 2017 in good shape to continue to grow, and deliver value to customers, employees and shareholders.”
Bruce McDonald, President of Performance Chemicals at Innospec added: “We are delighted to welcome the new employees to Innospec, and we look forward to working with our customers and offering a much wider range of products and technologies.”
