The week in business: 11 September
Korongo airlines calls it quits, Alcopa auto importers buys Imexso and an overview of the rest of the week's business news
Air – Korongo
Car import – Alcopa
The car importer and distributor, based in Kontich, Antwerp province, and handling brands such as Hyundai, Suzuki, Isuzu and SsangYong, is taking over the French Imexso group, which handles some 10,000 vehicles a year in northern France.
Chemicals – Vynova
The chemical products company, based in Tessenderlo, Limburg, is investing tens of millions of euros to build an on-site chlorine and potassium oxide production unit.
Gas – Fluxys
The Brussels-based gas supply and pipeline operator is eyeing a share of the Greek gas transport company Desfa in partnership with Azerbaijan’s state gas operator Socar. The move would allow Fluxys to participate in the projected gas pipeline linking Turkey with western European consumers.
HVAC – Vandewalle
The ventilation and climate technology company, based in Jabbeke, West Flanders, has been taken over by Cofely Axima, an affiliate of the French Engie energy group.
Packaging – Van Genechten
The Turnhout-based cardboard and packaging products group is taking over a Hungarian cardboard production unit from the Swedish company Stora Enso.
Shipping – CMB
The stock market-quoted shipping group in Antwerp is turning private by its leading shareholder, Marc Saverys, in a €270 million buyout. The move, pricing the shares at a 20% premium on their last quotation, will give Saverys total control of the company, which is severely affected by the low shipping rates in the bulk freight market.
