Degussa to acquire Ausimont's Italian persalts and hydrogen peroxide activities
Degussa will be merging all activities into MedAvox, which will from then on be its wholly-owned subsidiary. MedAvox will have a workforce of about 100 employees and is projected to generate sales of EUR 50 million a year.
The completion of the transaction is subject to the regulatory clearance by the respective antitrust authorities. As a consequence of Solvay's acquisition of Ausimont earlier this year, the EU Commission instructed Solvay in April to divest its 50-percent stake in MedAvox as well as its hydrogen peroxide and sodium perborate activities in Bussi.
MedAvox has taken up the production and sales of sodium perborate since January 1, 2002 and is currently constructing a new plant for the production of sodium percarbonate which is scheduled to be completed by summer 2003. With this transaction, MedAvox will be able to strengthen its position as a leading producer of persalts and hydrogen peroxide in the Italian and Mediterranean markets.
A forward-looking step that will enhance Degussa's persalts and hydrogen peroxide businesses
For Degussa, the world's leading specialty chemicals company, the acquisition is a further strategic step towards successfully positioning itself on the growing market for persalts and hydrogen peroxide. It already operates sodium percarbonate, sodium perborate and H2O2 facilities in Rheinfelden/Germany, Antwerp/Belgium, as well as H2O2 production facilities in Austria, USA, Canada, Brazil, South Africa and New Zealand.
Europe is the world's most important market for hydrogen peroxide and persalts such as sodium perborate and sodium percarbonate. Both persalts are made on the basis of hydrogen peroxide, and find use in detergents. Sodium percarbonate offers economic, ecological and technological advantages.
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