Described by many in the industry as an ‘open secret’, the proposed merger of Italian leather chemical manufacturers SilvaTeam and Gruppo Biokimica looks close to completion. Although the agreement and announcement has not been officially finalised, it is known that both parties are keen to conclude the deal once the legal formalities have been completed.
One source told Leather International that a merger of the two companies would almost be a perfect synergy as Gruppo Biokimica have a range of beamhouse and finishing products while SilvaTeam are strong in the area of tanning/retanning agents particularly in vegetable extracts. SilvaTeam are also keen to exploit Biokimica’s high industry reputation for marketing and their strength in producing leather chemicals to tanners of highly fashionable leathers.
SilvaTeam have also acquired ICL, a small Italian manufacturer of high quality fatliquors and oils for the leather industry.
