Dussur acquires substantial share in Italmatch Chemical
Dussur, the Saudi Arabian Industrial Investments Co., has recently acquired a “substantial share” in Italmatch Chemical, an Italian-based global specialty chemical additive manufacturer based in Genoa.
The acquisition was announced during a ceremony held in Riyadh, Saudi Arabia, attended by officials from the Kingdom of Saudi Arabia, including Saudi Energy Minister Prince Abdulaziz bin Salman, Investment Minister Khalid Al-Falih, and Minister of Industry and Mineral Resources Bandar Alkhorayef.
This move signifies Dussur’s strategic expansion into the specialty chemical industry and highlights their commitment to fostering international partnerships.
As part of the agreement, Dussur will also invest SR405 million (USD108 million) in Italmatch through a capital increase. This capital injection will facilitate the establishment of specialised factories within the Kingdom of Saudi Arabia, to boost local production capabilities. The investment aligns with Saudi Arabia’s broader vision of nurturing industrial value chains and enhancing localisation efforts to meet both regional and global demand.
By partnering with Dussur, Italmatch Chemical aims to strengthen its presence and existing collaborations in the Middle East, particularly in Saudi Arabia. The company recognises the potential for regional growth and economic diversification, and views this partnership as an opportunity to contribute to these objectives.