OM Group, a supplier of novel technologies, magnetic materials, electrochemical energy storage, advanced materials and specialty chemicals, has declared the acquisition of Rahu Catalytics, a company specializing in novel iron-ligand based chemistry for applications in eco-friendly inks, composites and coatings, from Unilever Ventures and Management.
Terms of the acquisition deal were not revealed. The deal covers all master patents, associated intellectual property rights, and production and supply contracts. Rahu Catalytics was incepted in 2006. Since then, the company has concentrated on the development of solutions that integrate more renewable materials and provide better performance at lower waste, water and energy expenditures for the coatings industry.
Rahu Catalytics and OM Group had entered into an exclusive commercial pact in the beginning of the fiscal year 2009 for Rahu Catalytics’ Borchi OXY-Coat product portfolio, which is being used by major players in the worldwide coatings industry.
The Chairman and Chief Executive Officer at OM Group, Joseph Scaminace stated that the company is happy to include this novel product line into its family of green solutions for the global coatings industry.
Scaminace further said that demand for eco-friendly inks, composites and coatings is ever-increasing across the world. This Rahu Catalytics acquisition will help OM Group to leverage its capability to meet this demand and extend its dominance in the growth-oriented coatings industry, he concluded.