Infineum and Entegris, Inc. on Tuesday (11 October) announced the companies have entered into a definitive agreement for Infineum to acquire Entegris’ Pipeline and Industrial Materials business (PIM).
Entegris’ PIM business is part of the company’s Specialty Chemicals and Engineered Materials (SCEM) division and includes the Flowchem, Val-Tex, and Sealweld brands and a broad range of Drag Reducing Agents (DRAs) for pipeline operations.
The transaction is expected to close in the fourth quarter of 2022, subject to receipt of required regulatory approvals and other customary closing conditions.
“We are excited to announce the agreement to acquire Entegris’ Pipeline and Industrial Materials business,” said Trevor Russell, CEO of Infineum.
“This acquisition has a strong strategic fit with the core capabilities of Infineum and is a significant step in Infineum’s transformation into a sustainable world-class specialty chemicals company. We look forward to welcoming our new colleagues to the Infineum team.”
“Drag Reducing Agents (DRA) is an exciting global growth segment, and this addition will expand Infineum’s portfolio of specialty chemicals and deliver long-term value to our shareholders,” added Shee Young Kim, Infineum’s Director of Global Business Growth.
“Infineum’s complementary technology and supply chain capabilities, along with the synergies and dedication we intend to bring to this business, will enable us to provide customers with enhanced levels of innovation and performance reliability, all backed by the Infineum brand.”
Photo credit: Infineum
Published: 12 October, 2022
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