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Germany’s International Chemical Investors Group will acquire Allessa, a Frankfurt-based chemical firm, for an undisclosed sum. ICIG intends to merge Allessa with its WeylChem unit, which serves similar markets and has operations near Allessa’s in Griesheim and Höchst, Germany. The companies will have combined annual sales of more than $675 million, ICIG says. Both comprise businesses that were formerly owned by Hoechst, the large German firm that was broken up in the 1990s. “With the dissolution of the Hoechst conglomerate in the Rhein-Main region around Frankfurt, many of the synergies between the different sites have been destroyed, and it is time now to enable them again,” says Karl-Gerhard Seifert, chairman of Allessa’s supervisory board.
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