Business
AIMIA ANNOUNCES CLOSING OF STARCHEM TRANSACTION
AIMIA ANNOUNCES CLOSING OF STARCHEM TRANSACTION Canada NewsWire ACQUISITION E...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n AIMIA ANNOUNCES CLOSING OF STARCHEM TRANSACTION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: RIGHT; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ACQUISITION ESTABLISHES STRONG NORTH AMERICAN GROWTH PLATFORM FOR BOZZETTO GROUP\n \n \n \n \n (All figures are in Canadian dollars unless otherwise stated and are subject to change due to currency fluctuations)\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Jan. 3, 2024\n \n \n /CNW/ - Aimia Inc. (TSX: AIM) (\"\n \n Aimia\n \n \"), a holding company focused on long-term global investments, is pleased to confirm that its Bozzetto Group (\"\n \n Bozzetto\n \n \") subsidiary has closed the previously announced acquisition of 65% of StarChem S.A. (\"\n \n StarChem\n \n \") for\n \n $24 million\n \n \n (1)\n \n , with a potential earn-out of\n \n $12 million\n \n \n (1)\n \n .  The purchase price was funded entirely from Bozzetto's existing credit facility and Bozzetto's cash on hand. The executive management team of StarChem will retain a collective minority stake of 35%. StarChem, headquartered in San Pedro Sula,\n \n Honduras\n \n , is a leading manufacturer of specialty chemical solutions used primarily in preparation, dyeing, and finishing processes by its large, multi-national textile industry customers.\n \n \n Established in 2007, StarChem operates two production facilities in\n \n Honduras\n \n . These facilities have a total installed production capacity of approximately 20,000 Metric Tonnes (MT) per year, with potential for expansion. StarChem is expected to generate approximately\n \n $47 million\n \n...