Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News February 11, 2014 at 12:58PM

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VENTURES AFRICA – JSE-listed explosives and chemicals firm, AECI, has acquired Clariant Southern Africa, an African asset of the Swiss-based chemicals firm, Clariant International, for R409 million ($37.2m), it said on Tuesday .

This acquisition is in keeping with AECI’s plan of expanding in Africa to provide water treatment solutions through its wholly-owned subsidiary, ImproChem, which has laboratory and engineering facilities in Johannesburg and Durban.

“ImproChem has established a footprint on the continent subsequent to the acquisition of GE’s Chemical and Monitoring Solutions business in Africa and the Indian Ocean Islands in 2012,” Mark Dytor, CEO of AECI, said.

“On completion of the Clariant acquisition, which will also be merged with ImproChem, this footprint will be enhanced since ImproChem’s direct sales capability in many African countries will enable it to leverage Clariant’s penetration of these Markets,” Daytor said.

Hariolf Kottmann, Clariant CEO, said the company sold the company to AECI in an effort to manage its portfolio of assets.

Clariant has operations in Johannesburg and in Pietermaritzburg, KwaZulu-Natal.

The deal is dependent on approval by the related competition authorities.

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