CEO of Ansa McAl Ltd Anthony N Sabga III. - Photo by Faith Ayoung
ANSA Mc Al Ltd, has announced the acquisition of a US-Based chlor-alkali producer, in its continued drive to become a $2 billion Profit Before Tax (PBT) company by the year 2027.
The company’s name is Bleachtech LLC, a vertically integrated, market leading producer of high purity bleach, hydrochloric acid and caustic soda – commonly known as lye.
A media release from Ansa on Wednesday said the company has used superior engineering expertise, a unique manufacturing process and strong customer service to become a low-cost bleach producer of choice in the Midwest and Mid-Atlantic regions in the US.
The release said ANSA acquired the company for US$ 327 million dollars, the largest acquisition in the company’s 143-year history. It said the conglomerate got the money for the acquisition through a term loan from Citibank NA in the US.
“ANSA McAl via its subsidiary ANSA McAL Chemicals Limited, is the leading chlor-alkali producer in the English-speaking Caribbean, serving the water treatment needs of the Caricom region for over 35 years. This strategic acquisition builds on ANSA McAL’s position as a leading player in the Caribbean chemical industry and facilitates the Group’s hemispheric growth plans via market expansion into the North American chemicals market,” the release said.
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CEO of ANSA McAL Anthony N Sabga III said the acquisition was an important step in the conglomerate’s 2X strategy.
“It is also aligned to TT’s national objective to diversify the economy both from an industry and geographic perspective. We will continue to do our part as a leading private sector company, to create and innovate within our business in support or the local and regional growth agenda,” Sabga said.
He said the ANSA plans to grow the chlor-alkali portfolio through Bleachtech which will create new career opportunities and bring in foreign exchange for the company.
In the release former owner of Bleachtech LLC Richard Immerman expressed his excitement over the acquisition.
“I have been impressed with the care, professionalism and rigour ANSA McAL brought to this process. Their intention to invest and grow in this business is good news for all of us who helped build and work for Bleachtech, as well as our suppliers and customers.”
In August, ANSA reported a $38 million increase in profits for the first half of the year ending June 30, from $220.7 million in the first half of 2023 to $258.8 million for the first half of 2024.
Asked for a comment on the outcome of the US presidential elections, Sabga III said the TT-based conglomerate does not involve itself in politics and does everything it can to manage all its stakeholders in whatever international jurisdiction its companies operate in.
The announcement of the acquisition was made on November 5 – the day of the US elections.
“We are an apolitical organisation. This is not our first acquisition in the US. We have been present in the US for more than 20 years. We have been there for quite some time. We work with whichever government that is in power to do what is necessary in the service of our customers and the market base,” Sabga said.
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