AECI has acquired European contract manufacturer of agrochemicals and fine chemicals company Schirm for €110.5m, as part of its international expansion strategy. The buyout is the explosives and chemicals group’s first big acquisition in Europe. AECI already has well-established businesses in Africa, Australia, Southeast Asia and the US and sees good synergies in the deal, which is subject to conditions. Schirm, which was bought from Imperial Chemical Logistics, a wholly owned subsidiary of SA-based transport group Imperial Holdings, has four sites in Germany and one in the US. It is also the second major purchase by AECI in as many weeks. In one of its largest transactions yet, AECI bought Much Asphalt — based in Cape Town — in late October for R2.3bn cash. The firm is southern Africa’s largest supplier of hot and cold asphalt products. AECI said the outlook for road infrastructure in SA was extremely positive. AECI CEO Mark Dytor said on Wednesday there was a compelling case to bu...
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