Quimigal and Ence enter into alliance to acquire 50% of Elnosa
Quimigal and the Spanish corporate group Ence signed an alliance agreement today to develop Electroquímica do Noroeste (Elnosa), under which Quimigal acquires 50% of the Elnosa share capital.
Quimigal is one of the major companies of CUF, the holding company for the interests of the José de Mello Group in the chemical industry chaired by João de Mello. Quimigal focuses on the production of industrial chemicals.
Ence, in turn, is Spain’s biggest pulp manufacturing group, also involved in forestry, timber products and electricity generation using biomass.
Uniteca, a Quimigal subsidiary based in the Estarreja industrial park, operates in the soda and chlorate business, a sub-sector in which Elnosa is also engaged.
Uniteca will therefore be able to grow in this business area through the integration with Elnosa and to introduce other chemical products into the markets of Galicia where the company is established. The potential of the existing commercial activity will therefore be increased even further.
The agreement signed by Quimigal and Ence includes an industrial plan for Elnosa, calling for an investment of about €3.5 million in the medium term. The plan is directed at the conservation and improvement of existing businesses, while technological interchange is provided for under terms and conditions to be established under future legal provisions.
Quimigal reaffirms its commitment to Environmental Management and assumes all the principles of the Ence Group, which were corroborated by the recent audit performed by AENOR to secure ISO 14001 Certification.