Denmark’s EAC buys Malaysia specialty chem firm

31 July 2007 05:10  [Source: ICIS news]

SINGAPORE (ICIS news)--Danish food and trading group East Asiatic Co (EAC) has acquired a Malaysian distributor to strengthen its position in the industrial ingredients sector, it said late on Monday.

The acquisition of Akashi, a specialty chemicals and industrial ingredients company, will provide EAC access to Malaysia which will be its fourth largest market, it said in a statement on its website, but did not provide financial details.

Revenue from its Malaysia business will reach Danish kroner (DKr) 110m ($20.27m/€14.78m) this year after the acquisition, it added. Akashi raked in a revenue of DKr82m in 2006.

As a result of the acquisition, EAC will also become 50% shareholder of the Malaysian silicone products company Amochem.

Akashi formulates, markets, sells and distributes specialty chemicals and industrial ingredients in Malaysia and complements EAC Industrial Ingredients' existing activities in the country.

($1=DKr5.43/€1=DKr7.44)

By: Dzaki Alhady
+65 6780 4359

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