September 27 2021, David R Brown
Azelis continues to strengthen its presence in China with the acquisition of WWRC (China) Holdings
Azelis is reinforcing its presence in the Chinese market with the acquisition of a 100% stake in WWRC (China) Holdings Ltd. ("WWRC China") and Friendship Chemical Company Ltd. ("Friendship Chemical"). These acquisitions provide Azelis with a strong foothold in the CASE (coatings, adhesives, sealants and elastomers) and R&PA (rubber and plastic additives) industrial chemicals segments, further strengthening the Group's lateral value chain in the region.
We are excited that this union will grow our business in the industrial chemicals sector as WWRC China's segments are highly complementary to Azelis China'sLaurent Nataf
CEO & President of Azelis Asia Pacific
Founded in 1990, WWRC China is a leading Chinese distributor in the CASE and R&PA market segments and, like Azelis, strives for an innovative and enhanced offering through the use of laboratories. From its five offices in Hong Kong, Guangzhou, Tianjin, Shanghai and Chengdu, WWRC China serves around 3,000 customers with an attractive portfolio of principals. WWRC China's 91 employees will all join Azelis. Headquartered in Hong Kong, Friendship Chemical is a prominent player in the distribution of herbal oil ingredients.
Mr. Laurent Nataf, CEO & President of Azelis Asia Pacific, commented: “We are excited that this union will grow our business in the industrial chemicals sector as WWRC China's segments are highly complementary to Azelis China's. WWRC China has excellent relationships with large Chinese suppliers, creating opportunities to expand with these principals worldwide. The addition of WWRC China's offices increases our geographical coverage in China, allowing us to better serve our customers.”
Mr. Ching Kiu Wong, majority shareholder of WWRC China and sole owner of Friendship Chemical, added: “Combining our strengths with Azelis' will allow us to further improve our services and product offerings to our partners.”
Azelis has been active in China since 2012 and operates four dedicated application laboratories that provide support to customers in the Food & Health and Personal Care market segments, amongst others. Azelis recently acquired the Greater China operations of Ingredients Plus, strengthening its presence in the Personal Care industry.
The transaction was signed in summer 2021 and is expected to close in October 2021.
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 50 countries across the globe with around 2,500 employees. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals. We offer a lateral value chain of complementary products to more than 45,000 customers, supported by ~2,200 principal relationships, creating a turnover of €2.22 billion (2020).
Across our extensive network of more than 60 application laboratories, our award-winning technical staff help customers develop formulations. We combine a global reach with a local focus to offer a reliable, integrated service to local customers and attractive business opportunities to principals. EcoVadis Platinum rated, Azelis is a leader in sustainability. We believe in building and nurturing solid, honest and transparent relationships with our people and partners.
Source(s): Azelis Press Release