KUALA LUMPUR, Aug 9 (Bernama) -- Family-owned J.M. Huber Corporation (Huber) has signed an agreement to acquire full control of Biolchim group from NB Renaissance, Chequers Capital and the Biolchim group management.
Atlanta-based Huber is a specialty engineered chemicals and minerals manufacturer whose products are used in personal care, food and beverage, agricultural nutrients and adjuvants while Biolchim group produces and distributes specialty plant nutrition and biostimulants with its main operating base in Italy.
All the companies within the Biolchim group -- Biolchim S.p.A, Cifo, Ilsa S.p.A, Matecsa Kft, West Coast Marine-Bio Processing Corporation -- are within the scope of the purchase, a statement said.
The Biolchim group operates eight production plants globally and its products -- biostimulants, trace elements, and water soluble, liquid and foliar fertilizers -- are present in over 70 countries. The Biolchim group has been serving the agricultural industry for 50 years, the statement said.
The deal is expected to be completed by the end of 2022, the statement said.
The Biolchim group will become part of the Huber Engineered Materials, a company within the Huber portfolio of businesses.
The coming together of the two companies will expand their customer and product base, the statement said.
Biolchim group chief executive officer Leonardo Valenti will remain committed to lead the Biolchim group in its next phase of growth and integration.
-- BERNAMA
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