Israel Chemicals Buys Henkel's Water Treatment Business

Israel Chemicals (ICL) says it has agreed to buy all of Henkel's industrial water treatment business for €60 million ($89 million). The acquired business will become part of ICL's performance products segment, giving the segment annual revenues of approximately $1.1 billion, based on 2006 numbers. The business, which in 2006 had sales of €52 million, gross margin of approximately 53%, and operating margin of 13%, is a major European supplier of water treatment chemicals, solutions, services and equipment for the industry, including for steel and...

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