Italian partner acquired by TFL
Leather chemicals group TFL has formally acquired a company in Italy with which it has worked since 2018. It completed the purchase of Industria Chimica Fine (ICF) on November 1.
Two years ago, TFL began leasing, managing and operating the business and assets of ICF, including its manufacturing facility at Medicina, near Bologna. It said at the time that its aim was to use the ICF facilities to increase its output of fatliquors and intermediates.
During this time, TFL has said now, it worked behind the scenes to negotiate the purchase of ICF. “As a result, the transfer of the business under the purchase agreement will be seamless for our employees, customers and suppliers,” it explained.
Chief operating officer, Brian Watson, said: “We are very pleased to have now completed purchase of the assets. We are also pleased that Andrea Tarricone, who has led the development of the ICF business and manufacturing capability, will be joining us in TFL to support the future growth of our business.”
