AECI Limited has entered into an agreement with Solenis Technologies South Africa Proprietary Limited to sells its paper and pulp business unit, within its ChemSystems division, to Solenis.
Headquartered in Wilmington, Delaware, USA, the Solenis Group is a global producer of specialty chemicals for water-intensive industries. These include the pulp, paper, oil and gas, petroleum refining, chemical processing, mining, biorefining, power and municipal markets.
ChemSystems, a division of AECI, produces and supplies specialised chemical solutions for broadly the same spectrum of industries, including the pulp, paper and tissue manufacturing industries in South Africa and Sub-Saharan Africa. Until this disposal, ChemSystems was Solenis’ pulp and paper specialty chemical distributor in Africa.
Commenting on the transaction Mark Dytor, AECI Chief Executive, said: “Through ChemSystems, we have partnered with South Africa’s pulp and paper customers for many years. Excellent relationships have been developed and I am certain that these will be enhanced further by Solenis. We wish Solenis well with this new investment.”
The closing of the transaction is subject to the fulfilment or waiver of certain conditions precedent and is expected to be finalised by 30 June 2020.
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