MOSCOW (MRC) -- Netherlands-based specialty chemicals distributor company IMCD NV announced the acquisition of Shanghai Yuanhe Chemicals in China, the company said.
Yuanhe, established since 2003, is a specialty coatings, textile, and ink solution distributor for the China market. It generated a revenue of EUR 13.2 million in 2020 and adds 20 employees to the IMCD China team. This enhances the portfolio of IMCD China which serves the pharmaceutical, food and nutrition, plastics, and personal care industries.
“Combining forces with Yuanhe provides IMCD a strategic move into the China coatings market and complements the sustainability ambition of our global Coatings & Construction Business Group with a strong focus on environmental-friendly coatings solutions,” said Frank Schneider, Business Group Director, IMCD Coatings & Construction.
"We are excited to join IMCD to make a difference in the marketplace of coatings, textile and ink solutions through technical expertise and global connections. With IMCD’s reputation for professionalism and industry focus, plus Yuanhe’s strong local presence and customer base, we will create many more opportunities for our loyal customers and principal partners. We look forward to the integration with IMCD,” commented Sherry Li, Owner and Managing Director of Yuanhe.
The acquisition will boost IMCD China’s technical capabilities with the addition of a full-scale formulation lab in Shanghai, further strengthening IMCD’s global network of technical centres. Financial details of the transaction were not disclosed.
As per MRC, IMCD N.V., a leading distributor of speciality chemicals and ingredients, announced that it has successfully signed an agreement to acquire the personal care business of Ejder Kimya.
Ethylene and propylene are the main feedstocks for the production of PE and PP, respectively.
According to MR''s ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.
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