International Chemical Investors Announce Acquisition of Miteni, Italy
LUXEMBOURG, FRANKFURT / PR Newswire-FirstCall - International Chemical Investors Group (ICIG) announced today that it signed a definitive share purchase and sale agreement to acquire Miteni S.p.A. (Miteni), Italy from Mitsubishi Corporation (Mitsubishi), Japan, and other shareholders. Under the terms of the agreement, ICIG will acquire 100 percent of the shares of Miteni. The transaction is expected to close on February 5, 2009. Terms of the transaction are not disclosed.
Miteni is a leading manufacturer and supplier of fluorine intermediates and specialty chemicals products with manufacturing facilities in Trissino (Vicenza), Italy, employing 165 personnel. Miteni, founded as a joint venture between the Japanese Mitsubishi and the Italian Eni S.p.A. has been operating as a major player in the fluorine chemicals markets for over 40 years, applying three different fluorination technologies at its plant in Trissino. ICIG expects Miteni’s production and marketing capabilities to be highly complementary to ICIG product offerings of its other fine chemicals businesses located in Germany, France, Belgium, Ireland and the U.S.
About International Chemical Investors
International Chemical Investors Group is a privately held investment company focusing on mid-sized chemicals businesses. Since inception in 2004, ICIG has acquired 15 independent chemicals businesses, operating 19 production facilities worldwide with total sales of approximately €600 million and more than 3,000 employees.