Israel Chemicals Limited, a fertiliser and specialty chemicals company yesterday said that its unit ICL Performance Products (ICL-PP) has acquired US-based Halox, a division of Hammond Group Inc.
Hammond, Indiana-based Halox manufactures specialty phosphate-based corrosion inhibitor products for the paint and coating industry, which are sold under the Halox brand name.
Israel Chemicals acquired Halox's manufacturing, R&D operations, and distribution network, and the company will become a unit of ICL-PP.
ICL-PP, which is one of ICL's core operating segments, produces and markets food-grade phosphoric acid, phosphate salts, specialty phosphates and technical phosphate products and services for the detergent, water treatment, construction, paper, metal treatment, industrial cleaning and asphalt paving markets, as well as a range of food additives and hygiene products.
St. Louis, Missouri-based ICL-PP, which generated revenues of $1.3 billion last year, has its production facilities in Europe, North and South America, Israel, Australia and China.
"This acquisition will extend our technical phosphate specialties offerings for the paints and coatings sector while expanding our operations in the Americas," said James Moffatt, president of ICL-PP Americas.
ICL did not disclose the financial terms of the deal.