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Comment Business & Economics

Solvay to acquire Chemlogics  

By Gerald Ondrey |

As part of its ongoing transformation, Solvay S.A. (Brussels, Belgium; www.solvay.com) has signed an agreement to acquire privately-held Chemlogics (Paso Robles, Calif.) for a total cash consideration of $1.345 billion. Adding the U.S.-based company to Solvay’s Novecare business unit will create a leader with an extensive portfolio of tailored chemical solutions for the fast-growing oil & gas market, serving stimulation, cementing, production and water management applications. For Solvay Novecare, this acquisition will yield significant synergies thanks to a comprehensive offering of innovative products and technologies which enables oilfield service players worldwide to competitively and safely extract oil and gas while reducing water consumption. Chemlogics has shown annual double-digit EBITDA growth over the past five years, thanks to a fast-paced innovation model combined with a strong know-how and closeness to customers. Founded in 2002, Chemlogics reported last-twelve-month sales of around $500 million and has 277 employees. The company serves the needs of the oil-and-gas industry’s stimulation and cementing segments. All its assets are located in the U.S. and include three manufacturing sites with annual capacity…
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