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MOSCOW (MRC) -- Azelis has announced
that it will acquire majority shares of Asia Primera Kimika (APKI) and
Phil-Asiatic Supply & Services (PSSI), said Chemweek.
APKI
and PSSI offer distribution and services in personal care, home care, paints,
coatings, construction and inks, industrial chemicals and supply
management.
Their strong market presence in personal care would benefit
directly from the Philippine population’s increasing purchasing power and
growing access to premium products, Azelis said.
“Entering the important
and growing market of the Philippines will help us gain an even better coverage
in the entire region which is key for us to attract new mandates with our
existing principals,” said Laurent Nataf, CEO and president, Azelis Asia
Pacific.
The deals are expected to close within the next three months.
Financial details were not disclosed.
As MRC informed earlier,
in October 2020, Azelis opened a new application and training center in
Istanbul, Turkey. This center will service the Turkish food, personal care and
pharma markets and will offer product advice, formulation development and
technical research. Next to that, it will host customer meetings, interactive
formulation workshops, supplier meetings and internal technical
trainings.
We remind
that Russia's output of chemical products rose in October 2020 by 7.2% year
on year. At the same time, production of basic chemicals grew in the first ten
months of 2020 by 6.3% year on year, according to Rosstat's data. According to
the Federal State Statistics Service of the Russian Federation, polymers in
primary form accounted for the greatest increase in the January-October output.
October production of polymers in primary form grew to 857,000 tonnes from
852,000 tonnes in September. Overall output of polymers in primary form totalled
8,340,000 tonnes over the stated period, up by 17% year on year. |
