CHT Group acquires ICM Silicones Group

CHT Group, a leading silicone specialities supplier in Europe, has acquired ICM Silicones Group, of Michigan, USA.

ICM Silicones Group is a leading solutions provider for high performance silicone emulsions and silicone elastomer applications in the USA.

ICM Silicones Group consists of five separate operating subsidiaries: ICM Products, USA; QSi, USA; ACC Silicones, UK; Treco Srl, Italy; and ACC Silicones, China.

ICM Silicones Group will greatly expand CHT’s geographic reach in the US market and strengthen its already strong presence in the silicone specialities business.

Dr. Frank Naumann, CEO of CHT Group said, "We’re excited to combine the silicone speciality businesses of ICM Silicones Group and CHT.

"The acquisition doubles our current silicone business and positions us as a leading silicone specialities supplier globally.

"We look forward to continuing the strong business development by building on the combined strength of technical innovation and customer service both companies offer.

"Furthermore, this transaction brings CHT Group back to the ever important US market."

Levi Cottington, CEO of ICM Silicones Group, expressed enthusiasm over the acquisition, saying, "The acquisition is a great fit for both companies.

"CHT gains a strong presence in the United States plus adds technology and market segment expertise that can be used globally.

"We appreciate what we have been able to accomplish with Century Park and look forward to being part of the strong global CHT Team.”

Financial terms were not disclosed.