CHRYSO, a world leader in manufacturing additives for concrete and cement as well as developing added-value and innovative solutions for the building industry (‘the Group’), today announces that it has signed an agreement for the acquisition of certain assets of RUREDIL S.p.a., including the operating business divisions: concrete admixtures, cement additives, technical mortars, accessories for precast systems, fibers, products for decorative concrete and restoration, but excluding the Rurmec brand and the structural reinforcement business division. The consideration is not disclosed.
In Italy, CHRYSO operates as CHRYSO ITALIA, which was established in 1997. Its customers in the region include cement manufacturers, concrete producers (ready-mix and precast industrials) and building companies which benefit from the Group’s extensive experience in the chemical sector, and in the formulation and knowledge of construction materials.
RUREDIL is an Italian company, established in the 1950s. It manufactures chemicals and structural reinforcement systems, and owns well-recognised brands in the construction industry such as Ruredil and Levocell.
The CHRYSO acquisition of RUREDIL’s operating business divisions will enable CHRYSO to further develop its offering of high-technological products for the building industry. It will strengthen its presence in the different market segments, from construction to repair, and widen its range of solutions. This new business will increase the product mix and service offer proposed to customers.
Commenting on the transaction, Thierry BERNARD, President & Chief Executive Officer of CHRYSO, said: “We are delighted to be acquiring certain assets of RUREDIL and look forward to working with the talented workforce who will become part of the CHRYSO business. The combination of our operating businesses in Italy will provide a wider range of products to our customers, as well as improve our geographic coverage, enabling us to serve a greater number of building companies and cement and concrete manufacturers across Italy and abroad. The businesses will have strong offerings to answer the new technical challenges of the building industry.”
Trade unions are being consulted on the transaction. Its completion, expected over the summer, would be subject to satisfaction or waiver of customary conditions precedent.