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Azelis acquires firms in the Philippines

January 13/2021

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 populations 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.


mrcplast.com
Author:Anna Larionova
Tags:compounding, compounds, construction, coatings, Azelis Coating.
Category:General News
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