Italmatch Chemicals
Genoa, June 2019
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Company overview & summary strategy
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The partner of choice for performance additives and specialty chemicals
3
Global, flexible and well
invested manufacturing
footprint with 17 best-in-
class facilities(1)
Leading player in 4 resilient end markets
Water and Oil Performance Additives
Lubricant Performance Additives
Flame Retardants and Plastic Additives
Specialty / Performance Products & Personal Care
Global platform and
continuous international
expansion, with net sales
outside Europe targeted
to reach 70% in the mid
term
Strong and solid financial
track record
6 state-of-the-art R&D
centres driving
innovation also in close
Partnership with
customers
Growth platform also fuelled by visible
strategic greenfield projects, rich M&A pipeline
supported by Shareholders
(1) Including 2 exclusive tollers
EMPLOYMENT +900 17 MANUFACTURING SITES PRO FORMA SALES 600 M €
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Long journey from a small MBO to the creation of a leading global platform
4
1997
1998
2001
2004
2006
2007
2008
2009
2010
2012
2013
2014
2015
2016
2017
2018
Creation of
Italmatch
Chemicals
First LT phosphorus
raw material supply
agreement in China
First Chinese JV and doubled
P2S5 production capacities in
Italy
Second Chinese JV
dedicated to phosphorus
and obtaining ISO 14000
Creation of the Chinese
subsidiary to produce
FR’s in Nantong
Creation of a specialty group
thanks to the acquisition of
Akzo Nobel Lube and
Specialty business (Arese)
Start production of
Phosphorus & Melamine
FR’s in Nantong
Development of a
innovative FR family
(Phoslite)
Expansion towards lube and
plastics through new
products development
Acquisition of
Undesa
Entry into Industrial Water markets through
acquisition of Thermphos Chlorides
and Dequest businesses
Acquisition of GRS
Chemical technologies
Acquisition of Solvay
Water Additives &
Desalination businesses
Acquisition of Compass
and Solvay mining and
Anti-corrosion businesses
Acquisition of Elco
Corp., Sudamfos
do Brazil and
Magpie
Acquisition of Jiayou
Chemical from Ecolab and
Polartech from Afton
Bain Capital acquires 90%
Organic growth initiatives
External growth initiatives
Key events Le
gen
d
2019
Acquisition of
BWA
Water Additives
and
Eco Inhibitors
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Broad ranges of performance additives and application know-how
5
Flame Retardants and
Plastic Additives
Performance Products and
Personal Care
Lubricant Performance
Additives
Water & Oil Performance
Additives
Engineering Thermoplastic (PA/PBT/PC/ABS)
Polyolefins
PVC, Epoxy, Rubbers, Foams, PUR
Mining & Agrochemicals
Chemical Intermediates
Lithium Batteries
Pharma
Cosmetic
Additives & Components for Industrial Lube Oil
MWF Additives, Neat Oil & Water
Grease
Synthetic Base Stocks
Fuel Additives
Intermediates for Engine Oil Ad Pack
Industrial & Institutional Cleaners
Household Detergents
Oil Extraction & Recovery
Desalination
Pulp & Paper, Geothermal, Mining
Precious Metal Recovery Main
mark
ets
Red phosphorus flame retardants
Melamine flame retardants
Phoslite flame retardants
Metallic Stearates
PVC additives
Antislip lubricating additives
Phosphorus chlorides
Fatty acid chlorides and esters
Special phosphites / phosphates
High purity HCL
OPA
Personal care (start-up)
P2S5
Polymeric esters
Conventional & complex esters
Amides
Sulphurides EP additives
Hydraulic fluids
Grease additives
MWF additives
Antiscalants
Biocides
Corrosion inhibitors
Emulsion polymer
LMW polymer
HMW flocculants
Fuel cleaning agents
Sele
cte
d
pro
du
cts
25% global m.s. in P2S5(2)
90% European m.s. in
Polymeric Esters for
lubricants
1 30% global m.s. in
antiscalant 1 25% global m.s. in PCl3 1 >70% European m.s. in
Red Phosphorus FR’s 1
25% global m.s. in P2S5
90% European m.s. in
Polymeric Esters for
lubricants
Mark
et
sh
are
s
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(1) Headquarters without production facilities; (2) Exclusive toller
Global and flexible manufacturing footprint
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2 9
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11
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3 1
15
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17
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Integrated, global
platform
Reliable production
capacity
Well invested and flexible
set-up
Prime positioning
Industry leading HSE
track record
16
12
Bedford Park (USA) Huntsville (USA) Zaragoza (Spain) Manchester (UK) Jiayou (China) Nantong (China) Fangcheng (China) Hyderabad (India)(2) Osaka (Japan)(2)
10 11 12 13 14 15 16 18 17
Naples (Italy) Smyrna (USA) Cleveland (USA) Ashtabula (USA) Arese (Italy) Spoleto (Italy) Genoa (Italy)(1)
3 5 7 9
Newport (UK) Frankfurt (Germany)
4 8 6 1 2
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Global and flexible manufacturing footprint (cont’d)
Arese
Oil soluble radical polymerisation
Esters (natural & complex)
Organo phosphorus
Acid chlorides
Amides
Maleic anydride derivatives
ASA / PIBSA
Spoleto
Inorganic phosphorus derivatives
Halogen Free Flame retardants
Naples (GRS)
Water soluble polymers
Emulsion polymers
LMW-HMW Polymers
Fuel cleaning additives
New special resins
Newport
Phosphonates
Frankfurt
Phosphorus chlorides
Zaragoza
Stearine / Oleine
Fatty acid derivatives
Esterquats
PVC additives
Stearic esters
Metallic stearates
Oleo esters
Manchester
MWF components
Blending
Smyrna
Phosphonates
Biocides
Quats
Polymers
Phosphites / phosphates / esters
Esters
Fatty acid chlorides (next)
Huntsville
Blending
Cleveland
Sulphurized EP additives
Blending
Grease packages
Ashtabula
High purity HCL
ZDDP
Bedford Park
MWF components
Blending
Nantong
Melamine derivatives
Inorganic phosphinate
Red phosphorus FR’s
Changzhou
Water & oil additives
Nanning
P-S chemistry X engine oils
Osaka(1)
Phosphonates
Hyderabad(1)
MWF blending & components
Flexible set-up with ability to produce diversified batch chemistries at different plants
(1) Exclusive toller
Europe USA APAC 7 5 5
Flexible plants multi-chemistry
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Operational excellence based on solid pillars
Italmatch has established a comprehensive sustainable and ethical development strategy based on
Economic performance through Operational Excellence
Leadership in Technology and Market
Innovation and “Beyond” Innovation
Safety of People & Stakeholders is a key priority
Industrial risks and environment are closely managed through proactive cooperation with local Authorities
Operational Excellence program as a pillar to support growth and economic performance
Leading-edge technology
Continuous improvement of productivity and quality
Highly cost effective industrial platform
Key competitive advantages of Italmatch industrial strategy
Key certifications
Since 1991 Since 1997
Since 1992 Since 1996
+19% improvement
of accident frequency rate
+20% improvement
of accident severity rate
+14% reduction of
energy / raw material consumption (kWh / ton)
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Key pillars of Italmatch growth strategy
Long term
Partnership
culture with
clients
Innovation and applicative
expertise
External growth
(M&A)
& long term
initiatives
Strategic green/brown field
projects
Identified levers of growth
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3
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2
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Preferred “partnership” with customers as base for growth opportunities
Partnership-like relationships with customers
Sustainable long term growth opportunities and win-win situations for both Italmatch and its key customers
Growth driven approach, providing Italmatch with specific opportunities for diversification in new products and chemistries thanks
to strategic co-developments
Unlock unique greenfield (e.g. Engine Additives) and M&A opportunities (e.g. BWA)
Proven capabilities to understand and respond to challenging customer demands
Independent player with proven reliability to supply critical and strategic chemical products of high quality
Trustworthy relationships based on Italmatch independency, flexibility and ability to deliver critical products for customers
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State-of-the-art technical excellence centres and innovation strategy
Key pillars of Italmatch innovation strategy
Focus on Lubricants Water, Oil & Gas– MWF and
Personal Care
Momentum of recent investments reflected in
strong pipeline of new launches
Arese and Cleveland lube excellence centres to
become the heart of Italmatch R&D development
for Industrial lubricant and MWF markets, together
with recently added Manchester site
100 fully dedicated FTEs (c.11% of total FTEs)
demonstrating the strategic importance of
innovation
Customer and market-led R&D activities
leveraging on long term preferred relationships
with key customers
6 excellence R&D centres
Location Chemistries / Products End markets
Cleveland ■ Sulfur, zddp,
■ Organo-phosphorus,
■ Corrosion inhibitors
■ Industrial lubricants (MWF, greases, hydraulics)
Arese
Lube
■ Organo-phosphorus ■ Esters ■ Oil soluble polymers
Water & oil
■ Antiscalant (phosphonates) ■ Water soluble polymers ■ Biocides ■ Corrosion inhibitors
■ Industrial lube oil ■ Industrial MWF
(neat oil) ■ Water ■ Oil & Gas ■ Paper ■ desalinization ■ Mining ■ Geothermal
Manchester ■ Dispersants
■ Emulsifiers
■ Corrosion Inhibitors
■ MWF (Water based)
■ IWT & Oil&Gas
Spoleto ■ Inorgano-phosphorus
■ Flame retardants
■ Plastics FR
■ Engine oil additives
Zaragoza
■ One-pack additive
■ Stearates
■ Oleo esters
■ Esterquats
■ PVC additives
■ Plastic compounding
Antiscalants
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Advanced Water Solutions Products and trademarks
Dequest®, Briquest® & Mayoquest® Phosphonates (Antiscalants)
− Amino and acetic Phosphonates
− Custom-made solutions for special applications
Belgard®, Albrivap® Belite® and Flocon® Antiscalants & Antifoam for thermal & RO plant desalination
Bellasol®, Belclene®, Belsperse® and Dequest® Polymers (Dispersants/Antiscalants)
− PCAs
− Ter-Polymer (MA, EA, VA), Co-Polymers (AA, AMPS)
− Polymeric Inulin Derivatives (Carboxymethylated inulin)
− PMA / HPMA and PAA homopolymers
Bellacide® specialty biocides & synergistic formulations
Biocides (USA registered)
− Polyquats, LiquiBrom®
− BromiCide® (also EU registered)
− Quats
Magpie Precious Metal Scavenging Resins
Geogard® anti-scalants for geothermal plants
Corrosion inhibitors
− Belcor®, Bricorr 288®
− Imidazoline and Quats
Qualifloc® (Flocculants)
− Emulsion Polymers
Qualifloc® AF (Flocculants)
− Acrylamide Free Emulsion Polymers
Qualipol®
− Water based Polymers for Industrial process application
Kemfluid (Fabric Softener)
− Esterquats
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Lubricant Performance Additives Products and trademarks
Pentasit™ (antiwear engine oils)
− Phosphorus pentasulphide is a key raw material used for the production of high quality ZDDP that provides essential anti-wear as well as anti-oxidant properties in both automotive hydraulic as well as industrial engine oils
Ketjenlube™ (industrial oils)
− Polymeric esters for automotive & industrial gear oil and MWF/greases: antiwear additive or synthetic functionalised base
Dapralube™ (lube base stocks)
− Mono and polyol oleo esters for lubricants and MWF
Dapraquest™ (metalworking)
− A powerful sequestering agent for hard water applications in soluble oils phosphonic acid based chemistry
Elco™ (industrial lubricant additives)
− Light and dark sulphurised EP additives – sulfurization reaction, ZDDP and industrial packages for grease, metalworking and maintenance lubricants
Dapramid™ (friction modifiers)
− Oleo–amides/GMO for friction modification in automotive engine oils
Rhodafac™ ASI (corrosion inhibitors)
− Octyl-phosphonic acid corrosion inhibitors for zinc and aluminium
Dapraphos™ (antiwear additives)
− Special phosphites for ATF, industrial gear oil, greases and MWF
Dapral™ PA/PI (fuel additives)
− Thermal MA chemistry for polymeric amides/imides
Polartech™ : Water MWF additives & components
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Flame Retardants & Plastic Products and trademarks
Masteret™ (flame retardants)
− Red Phosphorus Based
Melagard™ (flame retardants)
− Melamine Based
Phoslite™ (flame retardants)
− New Phosphorus (low oxidation state) based, Fully colorable
Dapraslip™ (antislip)
− For plastics and inks
Kemilub™ (processing aids)
− Metallic stearates
Kemistab ™ (stabilizers)
− PVC stabilizers
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Performance Products/Specialties Products and trademarks
Acid Chlorides
− Personal care+Pharma+Agro
Phosphorus Chlorides
− Agrochemicals, FR’s/Water treatment, Lithium Batteries
Opa - Rhodafac ™ Asi
− Octyl-phosphonic acid for aluminium metal cleaning and pigment dispersant range
Dapral™
− MA derivatives/intermendiates for special applications
Red Phosphorus
– Agro/consumer/military
Polyamine Condensates
− Automotive/coating
Phosphorous Acid
− PVC additives/phosphate/Agro/Phosphonates
High Purity HCL
− Pharma
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Personal Care (Start up) Products and trademarks
Fatty Acid Esters, Alcohols and Derivates
Dapracare® Emollients
A range of products suitable to formulate elegant face and body care creams and lotions
Dapracare® Emulsifiers & Cream Base
Both O/W and W/O emulsifiers, as well as O/W cream bases to produce stable and modern emulsions
Dapracare® Thickeners & Consistency Giving Factors
To provide consistency to your emulsions and toiletries
Dapracare® Pearlizing & Anticaking agents
To add pearlescent effect and luxury aesthetics to your formulations and
avoid the formation of agglomerates in the powder formulations
Etidronic Acid and Tetra Sodium Salt of Etidronic Acid
Turpinal® Complexing agent
These products increase shelf life in Hair Bleaches and Hair Dyeing
Prevent oxidation of fatty acids in Soap Bars and are useful in Fragrance Stabilization in Toiletries
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CSR policy and priorities are
defined and publicly available on
its website also based on 231
Model/ Code of Conduct
Diversity & Equal Opportunities
are committed to respecting the
Local legislation as well as
difference of culture, values and
tradition of the countries where it
operates
Social dialogue with Unions &
Relations with Communities
are considered fundamental to
guarantee a good social climate
and are deemed good at all sites
Donation policy: Italmatch
supports projects carried out by
local communities, especially in
school and children education,
sports, disability
Future and Sustainability
The formation of a
«Multi Ethnic»
Management Team
The “Melting Pot” as the heart of our Identity
We believe in an Ethical and Sustainable business model. We’ve adopted an Ethical Code to improve our Governance. We’ve
developed a global vision and a local presence by creating shared Value and wellness for stake-holders, with respect for people,
environment and local communities of which we are a part. We respect our employees that represent the real «engine» for growth with
their enthusiasm, loyalty and entrepreneurial spirit.
Italmatch Chemicals Team at 20 Anniversary Celebration Italmatch Chemicals Chinese Team