BRUSSELS: Campine NV, a Belgian metals recycling and specialty chemicals company listed on Euronext Brussels, has signed an agreement to acquire Flamaway Group, a Belgian producer of flame retardant mixtures with operations in Belgium, the United Kingdom and China.

The deal, scheduled to close Oct. 1, 2026, will boost Campine’s flame retardant sales volume by more than 50%, adding Flamaway’s annual production of approximately 10,000 tons of compounds. Financial terms were not disclosed.

Flamaway, headquartered in Zele, Belgium, between Antwerp and Ghent, operates under the CTF2000 name and employs about 35 people, including eight in research and development. The group also runs a manufacturing and distribution facility with an application laboratory in Rochdale, U.K., near Manchester, employing nine people, and a third location in Suzhou, China, west of Shanghai, with six employees focused on purchasing, sales and raw material evaluation.

The group generates nearly €40 million in annual sales revenue, with an EBITDA margin of about 10%.

Campine CEO Wim De Vos said the acquisition strengthens the company’s position in the flame retardant market by combining Campine’s existing specialty chemicals and masterbatch activities with Flamaway’s expertise in multi-material formulations.

“With our joint forces, we become a global flame retardant powerhouse,” De Vos said. “Our product portfolio will enlarge substantially with Flamaway’s R&D and multi-material knowledge. We will boost developments in Campine’s FR business and realise synergies in purchasing.”

Flamaway holds a strong position in the broader textile industry and offers a portfolio that combines established flame retardant products with proprietary mixtures and formulations, diversifying from Campine’s antimony trioxide-based formulations.

Luc Carlier, CEO and main shareholder of Flamaway, said the combination of customer networks and market access will open new opportunities.

“By combining our customer networks and market access, we see significant opportunities to bring Flamaway’s products to new regions and customers,” Carlier said. “And I am particularly glad I found a Belgian home with a similar culture for my company. Joining forces with a financially strong industrial group assures continuity for my Flamaway team and will be an accelerator for growth.”

Flamaway will become part of Campine’s Specialty Chemicals Division. Hans Vercammen, the division’s director, said the combination is complementary for existing customers.

“We already provide flame retardant chemicals in powder form and as masterbatches in pellet form,” Vercammen said. “Flamaway adds liquid formulations and strong application know-how. Bringing these capabilities together will allow us to support customers with a broader range of ready-to-use flame retardant solutions in different markets.”

Carlier has committed to continue leading Flamaway Group, working alongside Vercammen to implement synergies and support growth within Campine’s Specialty Chemicals Division.