Brenntag gains Russia foothold with Dipol deal
07 August 2008 15:37 [Source: ICIS news]
HOUSTON (ICIS news)--Global chemical distributor Brenntag said on Thursday it has acquired distributor Dipol Chemical International to boost its presence in eastern Europe and Russia.
“The acquisition enables Brenntag to enter the market in the Ukraine and substantially increases our presence in Russia," according to a statement by Helmut Struger, managing director of Brenntag central and eastern Europe.Financial terms were not disclosed.
Dipol has its headquarters in the US, with offices and warehouses in Kiev, Riga, Moscow and St Petersburg, Brenntag said.
Dipol had sales of $100m (€65m) in 2007, Brenntag said, adding it distributed for such companies as Dow Chemical, INEOS, DuPont and DSM.
"This cooperation is an ideal foothold to enhance Brenntag’s attractiveness for suppliers and customers in fields such as food, cosmetics, construction, paint and varnish and oil and gas," tbe company added.
($1 = €0.65)
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