25 August 2010 10:55 [Source: ICIS news]
SINGAPORE (ICIS)--Netherlands-based IMCD Group said on Wednesday that it has reached a binding agreement to acquire the specialty chemical distribution companies of the UK's Warwick International Group, as part of its bid to expand in the Asia-Pacific region.
The value of the transaction, which is due for completion at the end of August, was not disclosed.
IMCD said it would be acquiring GME Chemicals - the leading chemical distributor in Malaysia - from Warwick, along with Warwick Technology (?xml:namespace>
“We are now aiming to become a distributor of choice for the world leading suppliers of specialty products on the Asian continent," said IMCD CEO Piet van der Slikke in a statement.
The targeted companies generate about €80m ($101m) in sales revenues and employ 125 staff, IMCD said.
IMCD's current distribution business in Asia-Pacific covers
($1 = €0.79)
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