TOKYO, Japan — Kurita Water Industries and ICL announced that they have entered into an asset purchase agreement for Kurita’s acquisition of ICL’s Performance Products (ICL PP) segment’s aluminum, paper chemicals and water treatment (APW) business units based in Ludwigshafen and Düsseldorf, Germany, in addition to ICL PP venues in China and Europe, according to a press release.

The transaction will be for consideration for approximately $318.6 million (€250 million) and the transaction's closing is expected to take place at the end of this year, subject to the completion of certain conditions such as the receipt of approvals by authorities, stated the release.

The release reported that the APW business units produce formulations, active ingredients and customized water treatment solutions for use by industries and municipalities.

Kurita is a water treatment company within the industrial water field, engaged in the provision of water treatment facilities, chemicals and maintenance services, informed the release.

ICL is a global manufacturer of products based on specialty minerals primarily for agriculture, food and engineered materials markets, noted the release.

You can find the release here.