The acquisition, in the millions of dollars, was part of a strategic decision to enter the chemicals field.
Rotem Amfert, of the Israel Chemicals group, recently acquired French company Gurit and Sofima of Germany. Both companies are in the food additives and fine chemicals business. The acquisition was part of a strategic decision to enter the chemicals field, mainly for the paper and water industries, in which the company has not dealt up to now.
The company’s management refused to disclose to "Globes" the cost of purchasing the two companies, but it is estimated in the millions of dollars. As part of the strategy of entering the chemicals field, the company intends investing tens of millions of dollars in its synthetic plaster factories in Israel, and also in chemicals for the water and paper industries.
In the last few months, company chairman Akiva Mozes has been negotiating with several large chemicals companies in Europe and the USA for the purchase of chemicals companies and factories. Mozes told "Globes" that, in the last year, the company has received many business proposals, and realising them will significantly broaden its activity base.