August 23 2022, David R Brown
IMCD México expands into the polymer and compound distribution market with the acquisition of PromaPlast
IMCD N.V. ("IMCD"), a leading distributor of speciality chemicals and ingredients, has signed an agreement to acquire 100% of the shares of PromaPlast Resinas, S.A. de C.V., Proveedora de Materiales Plásticos, S.A. de C.V. and PromaPlast USA Inc. (jointly "PromaPlast"), an advanced materials distributor which serves the Mexican and U.S. markets.
The acquisition of PromaPlast is an exciting step into a major new market for IMCD México and further expands our capabilities in the U.S.Olivier Champault
Business Group Director, IMCD Advanced Materials.
“The acquisition of PromaPlast is an exciting step into a major new market for IMCD México and further expands our capabilities in the U.S.,” said Olivier Champault, Business Group Director, IMCD Advanced Materials. “PromaPlast is a complementary addition to our global network of advanced materials experts and underscores our commitment to expanding opportunities for customers in Mexico and suppliers seeking a strong, reliable channel partner in the region.”
In 2021, PromaPlast celebrated 25 years as a market leader since it was established in 1996. It is a privately owned company and boasts a highly diversified portfolio of resins and compounds to serve the packaging, footwear, consumer goods, home appliances, automotive and other industrial markets, plus additive masterbatches.
“This acquisition is a natural progression into the next phase of PromaPlast’s 25-year history,” said Ricardo Méndez, General Manager, PromaPlast. “Our market reputation and steady growth throughout the years have led to this moment to join a global market leader. PromaPlast's shareholders are pleased to find in IMCD a company with integrity that will value our talent and further develop the business and partnerships we built throughout the years. With IMCD's range of resources, capabilities and global network, our team's horizon has expanded to reach greater heights—we are looking forward to work towards an exciting future together.”
Headquartered in Lerma, Mexico, PromaPlast is ISO 9001-2015 and IMMEX certified and comprised of six sales offices, strategically located warehouses and 109 employees, with 43 technical sales executives providing nationwide commercial support throughout Mexico, and parts of the U.S. The closing of the transaction is expected to take place in September 2022.
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 3,435 million in 2021 with nearly 3,700 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 56,000 customers and a diverse range of world class suppliers.
Source(s): IMCD Press Release