Element Solutions Inc Announces Acquisition of DMP Corporation and the Launch of MacDermid Envio Solutions
August 10 2020 - 4:15PM
Business Wire
Element Solutions Inc (NYSE:ESI) (“Element Solutions” “ESI” or
the “Company”), a global and diversified specialty chemicals
company, today announced its acquisition of DMP Corporation
(“DMP”), a premier provider of turnkey wastewater treatment and
recycle and reuse solutions across multiple manufacturing
industries. The Company today also announced the formation of
MacDermid Envio Solutions, a new business focused on helping
customers profitably reduce their environmental impact through
proprietary water treatment and metals recycling solutions. This
business will report under Element Solutions’ Industrial Solutions
vertical but sell across ESI’s broader end markets. The acquisition
of DMP further expands the Company’s investment in technology to
provide innovative solutions helping its customers manage the
existential issue of sustainability for manufacturing businesses
around the world. DMP will be combined with ESI’s existing Chemtech
metals recycling business to form MacDermid Envio Solutions.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200810005746/en/
Executive Commentary
Chief Executive Officer Benjamin Gliklich said, “As
environmental concerns and regulation continue to drive change
within the specialty chemicals industry and our existing supply
chain, we continue to invest in technology to help our customers
meet and exceed these requirements. The acquisition of DMP and
formation of MacDermid Envio Solutions allow Element Solutions to
offer its customers capabilities that are both needed today and
will be needed more over time. DMP’s existing footprint is in North
America, but its technology is relevant around the world. There is
a great growth opportunity in taking this business to our global
customer base. Environmental matters are existential for our
customers, and we are excited to help provide them with yet another
set of critical solutions. We are very happy to welcome the DMP
team into the ESI family.”
Mr. Gliklich continued, “MacDermid Envio Solutions will launch
with a modest $20 million of annual sales; however, we have greater
ambitions for it in the near term. The solutions we provide require
minimal investment and have short payback periods for our
customers, in addition to the significant benefit for our planet.
Several of the technologies in this portfolio are novel to
international markets and with modest customer education, these
technologies should generate strong traction. Sales into this
market will be completely additive to the existing Element
Solutions businesses and a growth driver for our company. MacDermid
Envio Solutions will be a case study in doing well by doing
good.”
About Element Solutions
Element Solutions Inc is a leading global specialty chemicals
company whose businesses supply a broad range of solutions that
enhance the performance of products people use every day. Developed
in multi-step technological processes, the innovative solutions of
the Company's businesses enable customers' manufacturing processes
in several key industries, including electronic circuitry,
semiconductor, communications infrastructure, automotive systems,
industrial surface finishing, consumer packaging and offshore
energy.
More information about the Company is available at www.elementsolutionsinc.com.
About DMP Corporation
Founded in 1971, DMP Corporation is a leading provider of
efficient, cost effective wastewater treatment and recycle and
reuse solutions. As an ISO 9001:2015 certified chemical
manufacturer, DMP offers a broad selection of manufacturing
proprietary chemicals and equipment that provide effective and
comprehensive solutions tailored to customers’ needs across a
variety of industries.
More information about the Company is available at www.dmpcorp.com.
About MacDermid Envio
Solutions
Combining intimate chemistry know-how and advanced engineering
solutions, MacDermid Envio Solutions provides equipment, chemistry
and services that improve its customers environmental footprints
through wastewater treatment and materials recycling solutions.
Custom solutions from MacDermid Envio Solutions reduce customers’
waste discharge and save them money.
More information about the Company is available at www.macdermidenvio.com.
Element Solutions and MacDermid Envio Solutions are Trademarks
of Element Solutions Inc and its subsidiaries.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200810005746/en/
Investor Relations Contact: Yash Nehete Associate Director,
Corporate Development & IR Element Solutions Inc
1-561-406-8465
Media Contact: Liz Cohen
Managing Director Kekst CNC 1-212-521-4845
Element Solutions (NYSE:ESI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Element Solutions (NYSE:ESI)
Historical Stock Chart
From Apr 2023 to Apr 2024