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10 October 2024
WE Soda Ltd, the world's largest producer of natural soda ash, is pleased to announce the acquisition of a controlling interest in the SAISA group of companies (“SAISA”), the largest distributor of soda ash and sodium bicarbonate in Iberia, from GRP Productos the current controlling shareholder (“GRP”). Following the acquisition, a new joint venture company to be called Soda World Iberia will be established to distribute WE Soda products across Iberia and other adjacent geographies. Details of the financial terms are not being disclosed, however the acquisition will be leverage neutral for WE Soda.
Complementary to our existing sales and distribution channels in Europe with the creation of an Iberia-focused “last mile” logistics and direct customer service company, controlled by WE Soda.
Direct access for WE Soda to serve small and medium sized customers in Iberia, currently served indirectly by SAISA.
Potential to grow new distribution, logistics and packaging hubs in other geographies globally, utilising the expertise of SAISA.
Improved customer service by increasing security of supply and customer service, further reducing supply chain risk and our cost-to-serve.
Synergy opportunities by leveraging the existing regional network of SAISA, coupled with WE Soda’s robust global logistics and supply chain network.
SAISA has acted as the exclusive distributor of WE Soda products in Spain and Portugal for almost 15 years, since Eti Soda started production in 2009. Soda World Iberia will be a joint venture company between WE Soda and GRP, controlled by WE Soda and utilising the expertise and customer network developed by SAISA.
Alasdair Warren, Chief Executive Officer of WE Soda, commented:
“I am very pleased to announce our agreement with SAISA, a trusted and successful partner of WE Soda for more than a decade. Together, we aim to develop interesting growth opportunities for WE Soda in Iberia, across Europe and in other regions globally by leveraging SAISA’s operating expertise. We are very much looking forward to working with the SAISA team and combining our world class, low cost sustainably produced soda ash with SAISA’s distribution expertise, customer relationships and established logistics and storage hubs.”
- Ends -
WE Soda
Edward Westropp, Head of Investor Relations
+44 (0) 208 148 5456
[email protected]
Sodali & Co (Public Relations adviser to WE Soda)
Peter Ogden
+44 (0) 207 250 1446
[email protected]
WE Soda is the world’s largest producer of natural soda ash and one of the world’s largest producers of sodium bicarbonate. Our purpose is “to responsibly produce essential ingredients for a sustainable future” and sustainability is integrated into everything we do. We produce soda ash with the lowest CO2e emissions intensity within our industry and we believe that we have the lowest impact on nature and the environment. For more information, please visit www.wesoda.com.
SAISA was founded in 1987 and is an established marketing, warehousing, handling and distribution company for soda ash, sodium bicarbonate and other chemical product across Spain, Portugal and Morocco. It is the largest distributor of soda ash and sodium bicarbonate in Iberia and has been the exclusive distributor of WE Soda products in the region since 2009. Please visit: Saisa Chemicals.