03.08.23
Temix Oleo SpA and KLK Emmerich GmbH, a subsidiary of Kuala Lumpur Kepong Berhad (KLK), under its resource-based manufacturing division known as KLK OLEO, has entered into a definitive agreement to acquire a controlling stake in Temix Oleo.
KLK OLEO is a global integrated oleochemical producer of oleochemical, derivatives and specialty chemicals, with manufacturing sites in Malaysia, Indonesia, China and Europe. KLK OLEO is the manufacturing division of KLK, a leading international plantations group listed on the Malaysia stock exchange with a market capitalization of approximately $5.06 billion since the end of September 2022.
Temix Oleo, a Milan-based oleochemical company, is focused on production of esters mainly based on renewable feed stocks, and delivering solutions for lubricant, cosmetic, ceramic, coating, rubber and plastics industries. The company’s production plant is in Calderara di Reno (Bologna) employing around 100 people with a turnover of $158.23 million in 2022.
“Temix Oleo outstanding reputation is built on its customer-centric and high-quality service business model. We are excited to welcome the Temix Oleo team and their excellent product portfolio to be part of the group of KLK ("KLK Group")” said Sriganesh Mathur Subramanian, managing director, KLKE.
Roberto Cella, managing director of Temix Oleo, called the acquisition a growth opportunity for Temix Oleo, in product portfolio and geographic areas, with a focus on sustainability and innovation.
The transaction is expected to be completed by April 2023.