September 30 2021, David R Brown
IMCD strengthens its waterborne coatings solutions portfolio in China with the acquisition of Aquatech
IMCD N.V., a leading distributor of speciality chemicals and ingredients, has announced that IMCD China has signed an agreement to acquire Aquatech Speciality (Shanghai) International Trading Co., Ltd. and Aquatech Speciality (Guangzhou) Trading Co., Ltd. ("Aquatech") in China.
Aquatech's philosophy of value creation matches perfectly with IMCD's strategy to become a strong partner for our customers and suppliers for sustainable coatings solutions in ChinaAndreas Igerl
Managing Director of IMCD China
Since its establishment in 2004, Aquatech has been active in waterborne solutions in coatings, ink, and textile industries. Aquatech generated a revenue of approximately RMB 51 million (ca. EUR 6.7 million) in 2020 and adds 10 employees to the IMCD China team. Aquatech's coatings business enhances the future-focused portfolio of IMCD Coatings & Construction Business Group in China.
“Aquatech's philosophy of value creation matches perfectly with IMCD's strategy to become a strong partner for our customers and suppliers for sustainable coatings solutions in China“ commented Andreas Igerl, Managing Director of IMCD China.
“Today is a significant day for Aquatech as we join IMCD as part of their global network. With IMCD's global connection and technical expertise, plus our local presence and capability, I am confident that we will provide more added value to our customers and partners to drive sustainability in the coatings industry,“ said Peter Shek, owner of Aquatech.
The closing of the transaction is expected to take place in November.
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