November 24 2017, David R Brown
Overlack changes name to OQEMA to reflect European growth ambitions
European chemicals distributor Overlack AG (Mönchengladbach, Germany) has announced that its changing its name to OQEMA to better reflect its ambitions for growth across Europe. The new name was chosen for its modern appeal and good memorabilty, Co-CEO Peter Overlack recently explained in an interview with CHEManager.
The newly-named OQEMA will be a very powerful force in European chemical distributionHeinrich Eickmann
co-CEO of OQEMA
The decision to rebrand was taken in order to express the Group's future vision which includes further expanding its position as one of the leading distributors for specialities, commodities and services throughout Europe, and externally presenting all Group companies in a homogenous way. Behind the vision lies a twin growth strategy: expanding via investment in acquisitions, especially in European countries where the Group is not currently active, and also organically by continuously expanding their product and service portfolio.
“We are very excited by the opportunities that lie ahead of us!” said Heinrich Eickmann, CEO of Overlack. “The newly-named OQEMA will be a very powerful force in European chemical distribution.”
The new name OQEMA was constructed using the 'O' from Overlack, in recognition of the Group's history, and 'QEM' representing chemistry, with the 'Q' being used to give personality and a sense of uniqueness.
OQEMA will remain a family-owned company and the Group's internal structures are unaffected by the change. The change of name will be formally adopted on 1st January 2018.
About Overlack AG
The group, which was originally founded in 1992, today comprises 20 companies operating in 17 countries across Europe. It has a staff of around 900 employees and an annual turnover of EUR 653 million in 2016. Although family controlled, the group went for additional growth capital from private finance provider Hannover Finanz (Hanover, Germany) in 2015, in order to finance the acquisitions of K.H. Klink Chemierohstoffe GmbH in Germany and Lansdowne Chemical plc in the UK.
Source(s): CHEManager article