Dussur acquires stake in Italmatch Chemicals

The signing ceremony

Saudi Arabian Industrial Investments Co. (Dussur) announced today, May 22, acquiring a stake in Italy-based Italmatch Chemicals, a global specialty chemical additive manufacturer.

Concurrently with this acquisition, Dussur will also invest an additional €100 million (nearly SAR 405 million) into Italmatch as a capital increase to build several plants in the Kingdom, the state-run SPA reported.

Upon completion of both the stake sale and capital increase, which is currently expected to occur within the first half of 2023 subject to customary conditions, including regulatory approvals, Dussur’s interest in Italmatch is expected to be less than 20%.
 

Italmatch is a leading global manufacturer of specialty chemical additives, operating across four key business units: advanced water solutions, flame retardants and plastic additives, and personal care and performance additives.
 

National Additive Manufacturing & Innovation Co. (NAMI), a private joint venture between 3D Systems and Dussur. The first-of-its-kind partnership was announced in a ceremony to launch Dussur projects in March 2022.

Further, other memorandums of understanding (MoUs) and strategic cooperation agreements were signed. An agreement was sealed by Italmatch with Basic Chemical Industries Co. (BCI) to supply chlorine and caustic soda. Another one for technical cooperation with Saudi Arabian Mining Co. (Maaden) to localize chemical products, which are used in phosphate, aluminum and gold. A third MoU was inked with Baker Petrolite Saudi Arabia to localize water treatment products.

NAMI also signed a MoU with Maaden and another one to build a roadmap for 3D printing. The third one was signed with Saudi Electricity Co. NAMI also inked a MoU with Saudi Aramco on additive printing.