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Radici: Takeover of Michael Day is completed

RadiciGroup (Bergamo / Italy; www.radicigroup.com) has won the bidding to acquire insolvent US compounder Michael Day Enterprises (MDE, Wadsworth, Ohio; www.mdayinc.com).The USD 5.7m deal was completed on 15 January, following an auction and court approval. The takeover represents a first step in what RadiciGroup Chemicals and Plastics CEO Luigi Gerolla said will be a worldwide expansion drive that will also take the Italian group to China, India, Southeast Asia and Russia.

An important focus will be the automotive industry. Michael Day has 250 active certifications that can be used in worldwide, in particular in Asia.

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