IMCD China diversifies its business with the acquisition of Welex
June 21 2022 - 1:00PM
IMCD China diversifies its business with the acquisition of Welex
ROTTERDAM, The Netherlands (21 June 2022) – IMCD N.V.
(“IMCD” or “Company”), a leading distributor of speciality
chemicals and ingredients, today announces that IMCD has signed an
agreement to acquire 100% of the shares of the speciality
distribution company, Welex S.A. Holdings (China) Limited and
certain related business (“Welex”).
Welex represents a wide range of leading global suppliers
providing its customers with an extensive portfolio backed by
technical and logistical services. Welex focuses on industries
covering coatings and inks, textiles, additives for speciality
compounding, and agrochemicals. Welex generated a revenue of
approximately HKD 322 million (ca. EUR 39 million) in 2021 and has
68 employees in Hong Kong, Beijing, Shanghai, Guangzhou, and
Qingdao offices.
“The addition of Welex opens the door for us to diversify our
coatings, paint and ink business, enter the fast-growing
agrochemical market and develop into the highly valuable speciality
compounding application. In particular, we gain the geographical
expansion across China with a strong presence in the Southern
part,” commented Andreas Igerl, Managing Director of IMCD China.
“This is an important milestone for us as we continue our growth
momentum with the diversification of our business.”
Welex adds a coatings and agrochemicals application laboratory
to IMCD’s global network of technical centres.
“Having established Welex for almost three decades, my team and
I have witnessed the changes in the manufacturing industry of South
China and the overall development of the country,” remarked Tony
Leung, Managing Director of Welex. “I am impressed with how IMCD
can understand and assimilate our differences in style and culture.
I am confident that joining IMCD will allow us to grow and prosper
on a global platform.”
The closing of the transaction is expected to take place at the
earliest of 31 October 2022.
Attached, please find the full press release in pdf format.
- Press Release - IMCD China diversifies its business with the
acquisition of Welex
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