Colorantes Industriales acquire SEICI

24 October 2005

Spanish company Colorantes Industriales has acquired 52% of Italian company SEICI SpA. The remaining 48% continues to be held by the previous owners, who are descendants of the company's founders. SEICI, created in 1935, are one of the longest established chemical producers for the leather industry. Their range is developed for the production of all kinds of leather from soaking to crust and is a point of reference in the worldwide market. The current manufacturing unit was inaugurated in 1975, at Leini (Torino), with a total area of 16,000 sq m, and marked the company's transition from a small production unit to an international industrial facility. Today 85% of SEICI production is exported to clients in more than 25 countries. Colorantes Industriales were established in 1983 as a dye company for the tanning, textile and paper industries, operating mainly in the Spanish market. Over the years, they have expanded their range of products for leather to include the entire tanning process, from the beamhouse to the finishing phase. Today, they export to 30 countries and have several joint ventures with technical services laboratory facilities located in some of the main leather markets including China, Italy, Türkiye, Argentina and Singapore. In 2001 the new headquarters was inaugurated in Castelbisbal near Barcelona. The modern industrial complex covers an area of 14,000m2, and houses the company's offices, production facilities, laboratories, and warehouses. Today, the total turnover of Colorantes Industriales group, including those companies under group control, is over US$40 million. This acquisition gives Colorantes Industriales financial and legal control over SEICI. The company plan to keep the SEICI organisation independent from Colorantes business with its own strategy, trade name and trademark. However, the new management will be responsible for all SEICI business and enhancing synergies with the new partner. In the coming months, SEICI will undertake new investments to modernise their production facilities and increase capacity. This will allow the company to expand their current product range in 2006.

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