June 2 2021, David R Brown
IMCD China expands its presence with the acquisition of Shanghai Yuanhe Chemicals
IMCD N.V. ("IMCD"), a leading distributor of speciality chemicals and ingredients, has announced the acquisition of Shanghai Yuanhe Chemicals Co., Ltd. ("Yuanhe"), a specialty chemicals distributor operating in China.
Combining forces with Yuanhe provides IMCD a strategic move into the China coatings marketFrank Schneider
Business Group Director, IMCD Coatings & Construction
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.
About IMCD N.V.
IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and ingredients. Its result driven professionals provide market-focused solutions to suppliers and customers across EMEA, Americas and Asia-Pacific, offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends.
Listed at Euronext, Amsterdam (IMCD), IMCD realised revenues of EUR 2,775 million in 2020 with nearly 3,300 employees in over 50 countries on 6 continents. IMCD's dedicated team of technical and commercial experts work in close partnership to tailor best in class solutions and provide value through expertise for around 50,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release