Univar purchases division of Italian chemicals distributor
Univar N.V. announced that its Univar Europe business unit has acquired substantially all of the assets of the Basic Chemicals and water treatment Products division of Guido Tazzetti & C. S.P.A., a chemicals distributor based in Turin, Italy. For the calendar year 2002, Tazzetti's Basic Chemicals and Water Treatment Products recorded net sales of EUR 23 million.
Tazzetti is a leader in Italy's industrial chemicals distribution and water treatment markets, and Univar is a leading distributor in the specialties markets in Italy. Tazzetti operates out of two locations, specialising in the distribution of industrial and basic chemicals. The company expects to realise significant synergies from its acquisition of Tazzetti which will be merged into Univar's existing Italian business, creating a market leader with strong positions in both commodity and specialty chemical products. The company will be assisted in the transition by current Tazzetti management subsequent to closing of the purchase.
Commenting on the acquisition, Silvio Scarpanti, Univar Italy's Managing Director, said, "We are very pleased at the opportunity to add Tazzetti's Basic Chemicals & Water Treatment division to our Italian business. "This provides us with excellent growth potential through access to new product lines, customers, and producer relationships. The Tazzetti family has done a wonderful job through the years in establishing Tazzetti as a premier reseller of chemical products across a number of sectors."
John Phillpotts, President of Univar Europe, commented: "The purchase of Tazzetti's Basic Industrial and Water Treatment Chemicals business is consistent with our key strategy for building market share in Europe, expanding our presence in existing markets through carefully targeted customer focused companies."
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