TFL Italia S.p.A and Industria Chimica Fine S.r.l announced today that TFL has completed its purchase of ICF's business assets from 1st November 2020.
TFL has been leasing the business assets from ICF for the last two years whilst the parties have worked behind the scenes to negotiate the purchase transaction. During this time, TFL has managed and operated the ICF business including the manufacturing facility in Medicina Italy, to increase its output of fatliquor chemicals and intermediates for its leather and non-leather customers. As a result, the transfer of the business under the purchase agreement will be seamless to our employees, customers and suppliers.
TFL will use the increased capacity to supplement the capacity from its existing facilities in France, India, China and Brazil to supply its growing market for innovative fatliquors for automotive, furniture and shoe leathers and non-leather applications.
Brian Watson, the Chief Operating Officer of TFL, comments: 'In the last two years, we have worked closely together with Andrea Tarricone of ICF and the excellent team operating the Medicina facility and we are very pleased to have now completed purchase of the assets'. Combine ICF's technical and manufacturing strengths with TFL's products and global marketing reach provides a winning solution for our customers. 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.`