Israel Chemicals has been a global leader in fire retardants since it acquired Astaris in 2005.
Israel Chemicals Ltd. (TASE: CHIM) has acquired Biogema SA, a French maker of forest fire fighting chemicals. The deal will be closed on January 1, 2008 and Israel Chemicals will integrate Biogema into its ICL Performance Products' Fire Safety division. The companies did not disclose the terms of the deal, but sources believe it amounted to a few million dollars.
The transaction further expands Israel Chemicals' fire fighting business. Earlier this year, the company acquired wildfire retardants maker Fire-Trol Inc. Israel Chemicals incorporated Fire-Trol Canada Company into its North American Fire Safety division, acquired as part of Astaris LLC in 2005.
Israel Chemicals said, "Biogema adds an important European manufacturing, logistics, and support group."
Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2007
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