GENOA, Italy, June 7, 2016 /PRNewswire/ -- Italmatch Chemicals, a leading global chemicals group specializing in the manufacturing and marketing of performance additives for lubricants, water & process treatment, and oil and plastics, has acquired 100% of Compass Chemical International, LLC, a leading North American company in the production and marketing of organophosphonates, polymers and other specialty additives /services for water treatment and oil & gas applications.
The acquisition, completed through the subsidiary Italmatch USA Corporation, will enable Italmatch to operate in the Americas markets through its own manufacturing facility which will produce the leading global Dequest product line, while continuing to produce Compass' Mayoquest brand of products.
This transaction is consistent with Italmatch Chemicals Group's growth strategy to further strengthen the company's position as a leading global supplier of Specialty Water Management Additives and associated services. It follows the acquisitions of GRS Chemical Technologies in December 2014, a centre of excellence specializing in the production of Low / High MW polymers and additives for heavy fuel oils, and more recently of Solvay's Desalination and Phosphonates / Phosphonic acid-based water additives business.
"The acquisition of Compass Chemical International," said Sergio Iorio, CEO of Italmatch, "strengthens our presence in the Americas markets in a strategic market segment, where we plan to keep investing in order to consolidate our position among the leading global players."
"Thanks to this transaction," concluded Iorio, "we will also expand our product range for the water treatment markets and will noticeably increase our presence in the oil & gas industries. This will be possible due to the presence of Compass in Texas, benefiting from the reputation of Compass Chemical International with its excellent track record, its strong customer loyalty, and its exceptional ability to develop new products for a wide range of applications."
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SOURCE Italmatch Chemicals