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MFC Industrial Ltd. (NYSE: MIL) announced that it acquired a majority interest ACC Resources Co., L.P.and Mexico City-based Possehl Mexico S.A. de C.V.
MFC Industrial Ltd. (NYSE: MIL) announced that it acquired a majority interest ACC Resources Co., L.P.and Mexico City-based Possehl Mexico S.A. de C.V.
As quoted in the press release:
ACCR and Possehl are privately owned, fully integrated commodity supply chain companies, specializing in industrial raw materials, chemicals and various other products. The acquisition of these companies expands our existing global supply chain network, reaching further into the North and Latin American markets. The addition of these established businesses brings new product lines that will integrate well into MFC’s existing commodities business. All key managers of ACCR and Possehl will remain with the acquired companies, and both ACCR and Possehl will retain their established branding identities as well as their current business locations. Together ACCR and Possehl have approximately 100 employees.
MFC Industrial Ltd’s Chairman, Michael Smith, said:
We are very pleased with this acquisition as it expands our existing commodities platform and geographic reach. MFC views this combination as a commercial partnership to grow both businesses into a stronger, united company. Our new partners are keeping a substantial amount of their capital in this larger supply chain company, which can now grow with new products and in new markets.