16 June 1998 09:29 [Source: ICIS news]
AMSTERDAM (CNI)--Dutch tank storage, shipping and distribution group Pakhoed has fully taken over two French chemical distribution groups, Gazechim Rhone-Alpes (GRA) and Gazechim Produits et Specialites Chimiques (GPSC).
Both companies have been 50% owned by Pakhoed since February 1997. Financial terms were not disclosed.
Pierre-Yves Divet, president of Pakhoed Distribution Europe, said it is planned eventually to merge GRA and GPSC with its 100% owned subsidiary Marcel Quarre.
This newly created company would be called Quarrechim. It would have 210 employees and an annual sales potential of about FF650m ($107m).
The merger would give Pakhoed Distribution Europe two commercial footholds in the French market with two chemical distribution companies: Lambert Riviere and Quarrechim. The group also has a plastic distributor: Lambert Riviere Plastics.
GRA has operations in Lyon and in Roanne. In 1997, the company had a turnover of FF158m.
GPSC has operations in Paris, Bordeaux, Toulouse, Marseilles, and Beziers. In 1997 its turnover was FF248m.
Marcel Quarre has operations in Paris and had a total turnover last year of FF204m.
Pakhoed Distribution Europe is the holding company for Pakhoed's distribution activities in Europe. Pakhoed Distribution Europe has sales of $1bn. The Pakhoed Distribution Group (which includes Van Waters & Rogers in North America) is the largest chemical distributor in the world with sales of more than $3bn.
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