Sunday, June, 23, 2024 04:28:45
  • The acquisition enables Italmatch to further strengthen its focus on sustainability as well as research & development.

  • The company has initial plans of producing & commercializing Low-Dosage Hydrate Inhibitors for the oil & gas industry.

Italmatch Chemicals S.p.A. (Italmatch), an Italian multinational specialty chemical company, has reportedly announced the acquisition of Eco Inhibitors (Eco), a Norway-based chemical solutions developer that is known for developing environmentally-friendly hydrate inhibitors for the Oil & Gas industry.

Reports cite, the investment made in these innovative Eco technologies would enable Italmatch to further strengthen its focus on sustainability as well as research & development, effectively refining & expanding its present rate of production and allowing it to reach higher-value markets.

According to a report by Industry Europe, the Italian chemicals company also has initial plans to leverage newly-acquired Eco Inhibitors’ technologies to manufacture & commercialize three Low-Dosage Hydrate Inhibitors (LDHIs) classes through its own Advanced Water Solutions. The three new classes of LDHIs would be specifically designed for flow assurance strategies’ optimization for deep water productions in the Oil & Gas industry.

The CEO at Italmatch Chemicals Group, Sergio Iorio stated that in the company’s primary areas of activity, its focus on innovation is fueling the development of a large as well as long-term pipeline; all thanks to external & internal contributors which eventually enabled the firm to make discoveries of new technologies that could be used to develop new classes of chemicals. Iorio further added that with Eco’s knowhow, the company is now proud to introduce new products that are eco-friendly.

The CFO & General Manager Corporate at Italmatch Chemicals Group, Maurizio Turci stated that the acquisition perfectly aligns with the company’s growth strategy as well as its global geo-coverage. Turci further added that from an industrial perspective, the transaction may make a positive impact on the medium to long-term sustainability for Advanced Water Solutions Business Unit’s results.

According to reports, the involved parties did not disclose the financial terms of the acquisition agreement.