Infineum and Entegris, Inc. announced that the companies have entered into a definitive agreement for Infineum to acquire the Pipeline and Industrial Materials (PIM) business of Entegris.
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 as well as a wide range of drag reduction agents (DRA) for pipeline operations. The transaction is expected to close in 4Q22, subject to receipt of required regulatory approvals and other customary closing conditions.
“We are delighted to announce the agreement to acquire the Pipeline and Industrial Materials business of Entegris. This acquisition is a strategic fit with Infineum’s core capabilities and is an important step in transforming Infineum into a sustainable, world-class specialty chemicals company. We look forward to welcoming our new colleagues to the Infineum team,” said Trevor Russell, CEO.
“Drag Reduction Agents (DRAs) are an exciting global growth segment, and this addition will expand Infineum’s specialty chemicals portfolio and deliver long-term value to our shareholders.
Infineum’s complementary technology and supply chain capabilities, and the synergies and dedication we intend to bring to this business, will enable us to provide our customers with enhanced levels of innovation and performance reliability, all backed by the Infineum brand,” said Shee Young Kim, Director of Global Business Growth at Infineum.
Read the article online at: https://www.worldpipelines.com/business-news/12102022/infineum-to-acquire-entegris-pipeline-and-industrial-materials-business/