Malaysia’s Kuala Lumpur Kepong Bhd (KLK) said on 11 April that it had completed its acquisition of a controlling stake in Milan-based Temix Oleo SpA for an undisclosed sum.
The transaction – carried out via KLK’s oleochemicals division, KLK Oleo – was completed after receiving all necessary approvals, KLK said.
“This acquisition is aligned with our long-term strategy and vision for growth by further diversifying our product offering, increasing access to key customers and augmenting our product specialisation strategy across our European operations,” said KLK Oleo Europe CEO Uwe Halder.
KLK Oleo is the manufacturing division of KLK, a leading Malaysian plantations group. It has manufacturing sites in Malaysia, Indonesia, China and Europe and produces basic oleochemical products such as fatty acids, glycerine, fatty alcohols and fatty esters, as well as speciality products such as methyl ester sulphonates (MES), surfactants and phytonutrients. The products are used in the manufacture of products for home and personal care, pharmaceuticals, food and nutrition, flavours and fragrances, lubricants, polymers and industrial chemicals. KLK Oleo reported annual manufacturing revenues of US$4.8bn in the 2022 financial year.
Temix Oleo produces, trades and distributes chemicals and oleochemicals, mainly based on renewable feedstocks. It has a plant in Calderara di Reno, Bologna producing 50,000 tonnes/year of fatty acids and 25,000 tonnes/year of esters.
Temix reported a turnover of €150M (US$164M) in 2022, KLK said.