Acquisition will expand KLK OLEOs’ product offering for Oleochemical.
Milan, Italy and Emmerich, Germany – Temix Oleo SpA (“Temix Oleo”) and KLK Emmerich GmbH (“KLKE”), a subsidiary of Kuala Lumpur Kepong Berhad (“KLK”), under its resource-based manufacturing division known as KLK OLEO, has entered into a definitive agreement to acquire a controlling stake in Temix Oleo (“the Transaction”).
KLK OLEO is a global integrated oleochemical producer (oleochemical, derivatives and specialty chemicals) with manufacturing sites in Malaysia, Indonesia, China, and Europe. KLK OLEO is the manufacturing division of KLK, a leading international plantations group listed on the Malaysia stock exchange with a market capitalisation of approximately Euro 4.8 billion as at the end of September 2022.
Temix Oleo is an oleochemical company focused on production of Esters mainly based on renewable feed stocks, and delivering solutions for lubricant, cosmetic, ceramic, coating, rubber and plastics industries.
Temix Oleo is located in Milan, Italy with production plant in Calderara di Reno (Bologna) employing around 100 people with a turnover of Euro 150 million in 2022.
The Transaction is expected to be completed by April 2023, subject to regulatory approval and customary closing conditions.
“Temix Oleo outstanding reputation is built on their customer-centric and high-quality service business model. We are excited to welcome the Temix Oleo team and their excellent product portfolio to be part of the group of KLK ("KLK Group")” said Sriganesh Mathur Subramanian, Managing Director, KLKE.
“This acquisition is an opportunity for Temix Oleo to continue to grow, in product portfolio and geographic areas, with focus on sustainability and innovation. Being part of the KLK Group, employees can look forward to a bright future.“ said Roberto Cella, Managing Director Temix Oleo.
For more information, please visit www.klkoleo.com/klkemmerich and www.temixoleo.com
# # #
FOR FURTHER INFORMATION:
KLK Emmerich GmbH
Sriganesh Mathur Subramanian
Temix Oleo SpA