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Ultrapar to Acquire American Chemical ICSA

2:00 AM MDT | May 29, 2012 | Natasha Alperowicz

Brazil's Ultrapar Participacoes, through its Oxiteno unit, has agreed to buy American Chemical ICSA, a Montevideo-based specialty chemicals company, for $79 million, according to a securities filing.   American Chemical, a family-owned firm, operates a plant at Montevideo with capacity to produce 80,000 m.t./year of chemicals used in the manufacture of cosmetics, detergents and leather products. The acquisition will expand the company's ability to supply industrial chemicals to clients in southern South America, among others, Ultrapar says.   American...

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