Element Solutions Inc Announces Acquisition of DMP Corporation and the Launch of MacDermid Envio Solutions
MIAMI--(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.
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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.
Investor Relations Contact:
Associate Director, Corporate Development & IR
Element Solutions Inc
Source: Element Solutions Inc
Released August 10, 2020