Eliokem on the lookout for acquisitions

Paris - Eliokem, a specialty chemical company, is seeking acquisition targets in Europe, Asia and the Americas to fuel profit growth and extend its scope of business, according to its Chief Executive Officer, Jacques Collonge.

This expansion strategy is the driving force identified in the secondary Leverage Buy Out of the chemical company led by Axa Private Equity in October 2006.

New acquisitions will allow the company to respond to increased market demands in its core business and to develop in new chemical sectors so as to drive top line growth and leverage worldwide market presence in the chemical business, said the company, in a statement.

Olivier Faussadier, Director and Member of the Executive Committee, will head the newly formed Ventures Department. On M&A activities, a dedicated team will support him in the search for value creating acquisitions that will strengthen the company's operations and enable it to meet its strategic and financial goals.

Eliokem sells Wingstay non-staining antioxidants; Chemigum, and Sunigum, elastomeric modifiers and Pliocord and Chemigum, latices for reinforcing textiles, as well as other materials used outside the rubber industry.

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