5 Jan 2004
Univar purchases division of Italian chemicals distributor
Rotterdam, The Netherlands, January 5, 2004 – Univar N.V. (Euronext Amsterdam: UNIVR), a world leader in chemical distribution, today announced that its Univar Europe business unit has acquired substantially all of the assets of the Basic Chemicals and Water Treatment Products division of Guido Tazzetti & C. S.P.A., a chemicals distributor based in Turin, Italy. For the calendar year 2002, Tazzetti’s Basic Chemicals and Water Treatment Products recorded net sales of € 23 million.
Tazzetti is a leader in Italy’s industrial chemicals distribution and water treatment markets, and Univar is a leading distributor in the specialties markets in Italy. Tazzetti operates out of two locations, specialising in the distribution of industrial and basic chemicals. The company expects to realise significant synergies from its acquisition of Tazzetti which will be merged into Univar’s existing Italian business, creating a market leader with strong positions in both commodity and specialty chemical products. The company will be assisted in the transition by current Tazzetti management subsequent to closing of the purchase.
Commenting on the acquisition, Silvio Scarpanti, Univar Italy’s Managing Director, said, “We are very pleased at the opportunity to add Tazzetti’s Basic Chemicals & Water Treatment division to our Italian business. “This provides us with excellent growth potential through access to new product lines, customers, and producer relationships. The Tazzetti family has done a wonderful job through the years in establishing Tazzetti as a premier reseller of chemical products across a number of sectors.”
John Phillpotts, President of Univar Europe, commented: “The purchase of Tazzetti’s Basic Industrial and Water Treatment Chemicals business is consistent with our key strategy for building market share in Europe, expanding our presence in existing markets through carefully targeted customer focused companies.”
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Notes for editors
About Univar
Univar N.V. (Euronext Amsterdam: UNIVR) is one of the world’s leading independent distributors of industrial chemicals and providers of related specialty services, operating throughout both North America and Europe. Univar endeavors to service its customer base, made up of some 250,000 industrial end-users, with a full portfolio of products. Univar operates a network of 195 distribution centers, spread across the United States, Canada and 14 European countries.
In 2002, Univar generated net sales of USD 4.4 billion and group operating income before interest, taxes and amortization of goodwill (EBITA) of USD 106.9 million (restated). Univar has approximately 7,000 employees based throughout North America and Europe. The company’s registered offices are in Rotterdam, The Netherlands, with offices in Bellevue, Washington, USA and Bradford, England providing administrative support services. For more information, visit: www.univarcorp.com
About Tazzetti
Guido Tazzetti & C. S.P.A., a family owned and a leader in Italy’s industrial chemicals distributor sector/ Active since 1909, Tazzetti is based in Turin and in this transaction is selling one of it’s three Divisions to Univar. This business, the Basic Chemicals and Water Treatment Division, recorded net sales of € 23 million in 2002. The Rossi Odello family will continue to own and manage the Tazzetti Group which will continue to develop its other business interests, including it’s wholly-owned divisions for Refrigerants and Specialty Gases and Environmental Services.