German Distribution Group expands in Southern Europe
Chemicals distributor OQEMA AG (Mönchengladbach, Germany) has announced the acquistion of Elettrochimica Valle Staffora S.p.A. [“EVS”] (Assago (MI) – Italy) effective 01. April 2019 for an undisclosed sum. The annual turnover of the company is close to EUR 60 mn and the company has approx. 50 employees. Former second generation owner Olindo Deserti will continue to be part of the company’s executive management team, OQUEMA said in a statement.
Established in 1930 as a producer of Sodium Hypochlorite, EVS today covers full range of organic and inorganic industrial chemicals well as certain specialities for the following industries: Industrial, Food, Pharmaceuticals and Cosmetics, Water Treatment, Rubber and Resins. It operates from a warehouse / tankfarm location (ca. 44’000 m2 of which ca. 9’000 m2 are covered, as ample land reserves) in Rivanazzano Terme (PV), located strategically between the commercial centers of Milano and Genova. The head office is located in Assago, just south of Milano.
No financial details were disclosed on the transaction.
Source: OQEMA website, EVS website
HGE – DCG / 09.04.2019