Accretive transaction to accelerate growth, expand geographical
reach and enhance R&D capabilities in fast growing activated carbon
segment
OSAKA, Japan - Tuesday, October 29th 2013
Osaka Gas Chemicals Co., Ltd. (“Osaka Gas Chemicals”), a wholly
owned subsidiary of Osaka Gas Co., Ltd (TOKYO:9532)(“Osaka Gas”),
today announced it has entered into an agreement with AddSorb
Holding AB to acquire all the shares of Jacobi Carbons AB
(“Jacobi”), the world’s largest manufacturer and distributor of
coconut shell activated carbon headquartered in Kalmar, Sweden, for
an enterprise value of US$ 400 million. The transaction is expected
to close in January 2014.
Osaka Gas Chemicals has a leading position in the activated carbon
market in Japan through its subsidiary Japan EnviroChemicals, Ltd
(“JEC”), who manufactures and distributes high-value-added
activated carbons made from coconut shells and wood sawdust. Jacobi
is the largest leading global coconut shell activated carbon
manufacturer with a comprehensive and diverse product portfolio
catering to a global blue-chip customer base across an array of
end-market applications. The acquisition will reinforce both
companies’ existing strengths in the activated carbon industry and
create a global leader across key end-market applications,
delivering significant additional value for customers.
Activated carbons are used in an increasing number of purification
processes including, among others, drinking and process water
filtration, air and gas purification, recovery of precious metals
and purification of a wide range of food products. The market for
activated carbons is expected to grow significantly due to more
stringent global regulations of water and air pollution in
developed countries and the improvement of living standards in
emerging countries. In line with Osaka Gas’ growth ambitions
outlined in ‘Field of Dreams 2020’, the development of environment
and non-energy related businesses, including the expansion of the
materials solutions business, are key areas of focus. As a result
of the acquisition, Osaka Gas Chemicals will become the third
largest manufacturer of activated carbons globally and the largest
manufacturer of high value-added activated carbon made from coconut
shells.
“Jacobi’s strong management team, led by CEO Anders Skeini, and
high level of responsiveness to customer demands have been
instrumental in transforming the business into a leading global
player that consistently outpaces activated carbon market growth”,
said Masataka Fujiwara, President of Osaka Gas Chemicals, “the
acquisition of Jacobi is directly aligned with our strategic
ambitions and enhances our existing capabilities in the attractive
activated carbon market segment”.
“The combination of Jacobi and Osaka Gas Chemicals will greatly
benefit our global customer base through an expanded product
offering, enhanced R&D capabilities and additional end-market
applications”, said Anders Skeini, CEO of Jacobi, “I look forward
to Jacobi’s next chapter of development in cooperation with Osaka
Gas Chemicals”.
Nomura International Plc acted as financial advisor to AddSorb
Holding AB and SMBC Nikko Securities, Inc. acted as financial
advisor to Osaka Gas Chemicals.
About Osaka Gas Chemicals
Incorporated in Japan in 1949, Osaka Gas Chemicals is engaged in
the manufacturing and distribution of fine materials, carbon fiber,
activated carbon fiber and adsorbents. It has made progress in
technical developments for the intensive use of coal tar developed
as a by-product of the utility gas production process by Osaka Gas.
The company employs approximately 250 people, and together with JEC
and the other 9 subsidiaries, comprises Osaka Gas Chemicals Group.
About Japan EnviroChemicals Ltd.
Incorporated in Japan in 2003, JEC is engaged in the manufacturing
and distribution of activated carbon, wood and industrial
preservatives. The company has a leading market position in
activated carbons in Japan, with its array of coconut shell and
wood sawdust activated carbon products. JEC employs approximately
110 people and has manufacturing operations in Japan, Philippines
and Malaysia.
About Osaka Gas
Incorporated in Japan in 1897, Osaka Gas (TOKYO:9532) is a leading
energy supplier with its core natural gas supply business serving 7
million customers in Japan’s Kansai region. With its portfolio of
diversified energy businesses, Osaka Gas is developing into a
multi-energy services provider of natural gas, electricity, LPG,
district heating/cooling, and other services. Through its affiliate
enterprises, the Osaka Gas Group is also active in various non-
energy business fields.
About AddSorb Holding AB
Incorporated in Sweden, AddSorb Holding AB is the holding company
of Jacobi.
About Jacobi
Incorporated in Sweden in 1916, Jacobi is the largest global
coconut shell activated carbon manufacturer with a comprehensive
and diverse product portfolio. The company, which employs
approximately 1,200 people globally, together with its
subsidiaries, has manufacturing operations in China, France,
Germany, India, Italy, Philippines, Sri Lanka, UK, US and Vietnam
and reactivation plants in France and Germany. Jacobi’s activated
carbon products are sold to its blue-chip customer base in over 100
countries through wholly owned subsidiaries in 19 countries across
the globe.
Contacts
Osaka Gas Chemicals Co., Ltd.
Shinji Sannoe, +81 (0)6-4393-0195
Team Manager
Management Planning Team, Planning Department
s-sannoe@ogc.co.jp
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