ITALMATCH CHEMICALS GROUP acquires WATER SCIENCE TECHNOLOGIES (WST)

NEW YORK, Sept. 27, 2019 /PRNewswire/ -- Italmatch Chemicals, a leading global specialty chemical group focused on the production and marketing of performance additives for water & process treatment, oil & gas, industrial lubricants and plastics, today announced that it has acquired Water Science Technologies (WST), a leading blender and chemical solutions provider for the North American oil & gas and industrial water treatment industries, based in Birmingham, Alabama (USA).

The acquisition further strengthens Italmatch Chemicals leadership in the North American oil and gas market, broadening the Italmatch Global Advanced Water Solutions business unit product portfolio, and application knowhow, with accretive contribution to its Research and Development capabilities, thanks to advanced in-house lab equipment, competence and logistic service capabilities.

Sergio Iorio, Founder and CEO of Italmatch Chemicals Group, stated: "WST is a young, dynamic and outstanding company with a great focus on technology-driven solutions. WST has multiple opportunities which strategically fall into the development growth path of Italmatch Advanced Water Solutions, strengthening Italmatch's position in the industrial water and oil & gas industries. Following the BWA Water Additives acquisition concluded in February 2019, this transaction allows additional industrial, commercial and technological synergies. This acquisition is driven by Italmatch's high focus on customer relationship/reputation and innovation together with a highly motivated and experienced team with a strong entrepreneurial approach dedicated to problem solving. The integration will enable Italmatch Chemicals to deliver robust performance, a complete chemical product range, and important value for long-term sustainable growth, jointly with our existing Customers and Partners."

Danny Mc Caul, CEO Italmatch Chemicals USA, said: "This acquisition represents another important step for Italmatch growth in the North American market, in line with the Group objectives in North America in its strategic sectors, starting from industrial water solutions, where the companies have a complementary product range. It will also provide a solid logistic base to better serve our oil & gas customers."

Maurizio Turci, General Manager Corporate and Group CFO, declared: "Looking ahead, the acquisition will contribute to boost sustainable financial results and support to the execution of our growth strategy, representing long-term value for our Stakeholders."

James Sasser, CEO of Water Science Technologies, said: " We at WST are excited about the acquisition by Italmatch Chemicals, a long standing, first class, global chemical company. We think Italmatch backing will accelerate WST growth, also in terms of innovation and geographical presence."

SOURCE Italmatch Chemicals