The Canadian I.C.T.C. holding company group announced that it will acquire Clariant's global color system business. The acquisition includes color system development and production bases in Milan, Italy and Mumbai, India. Relevant necessary procedures are currently underway, and the transaction is expected to be completed by the end of this month.
Clariant's global color system was acquired in 2011 from Italtinto, an Italian company that is a well-known supplier of color systems in the global coatings industry. I.C.T.C. plans to integrate the current management system and subsequent investments to maintain local business growth and expand into the global market.
I.C.T.C. holding company color matching business originated from HERO company established in 1969, headquartered in Delta, Canada. It is mainly engaged in the design, R & D, manufacturing and distribution of color matching systems and mixing equipment in the coating industry.