27 October 2014
DETAILS
Kurita Water Industries Ltd. ("Kurita")
announced today that
Kurita, BK Giulini GmbH ("BKG") and
its ultimate parent company,
Israel Chemicals Limited
have entered into an agreement where
Kurita will acquire
* the Water Solutions,
* Paper Solutions and
* Alumina Compounds businesses (the "Business") of
BKG and its affiliates (the "Transaction").
The Business includes
manufacturing, developing and marketing
water treatment chemicals, paper chemicals and
alumina compounds.
The Business is based on Europe and has
* production sites in Germany, Turkey and China,
* R&D facility in Germany and
* sales office in 9 countries mainly in Europe.
* Sales is EUR177 million (Fiscal year ended Dec 2013)
(approximately JPY24.2 billion
based on EUR/JPY rate of 136.65).
* The number of employees are approximately 464.
* Purchase price is EUR250 million
(approximately JPY34.2 billion based on EUR/JPY rate of 136.65),
subject to working capital and net debt adjustments;
paid with cash on hand.
The Transaction is expected to be completed
by the end of 2014.
The Transaction will enable Kurita
to strengthen its overseas business platform mainly in Europe.
Kurita expects synegy from
technical and products complementarity.
After the Transaction, sales in Europe expected to
be approximately 10% of total.
In addition, Kurita sees the technologies and products of
the Business as highly complementary with those of Kurita,
leading up to the strengthening of product portfolio
by combination of both technologies and
development of more diverse product offering
for its customers as well as topline growth by cross-selling.
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