03 September 2010 23:15 [Source: ICIS news]
By Joseph Chang
NEW YORK (ICIS)--US-based chemical distribution firm Univar will seek to expand in China with mergers and acquisitions (M&A) playing a big role, the company’s chief executive said on Friday.
“We want to grow our presence in high growth regions such as China and South America. In China we recognise that the growth opportunities there are extraordinary,” CEO John Zillmer in an interview with ICIS.
“We’ll look to grow organically through our existing business, but to take advantage of the scale opportunities going forward, we have to do some M&A work in that market,” he added.
Zillmer said there are opportunities to acquire quality chemical distributors in China, but that it will likely be a competitive process with other foreign bidders.
“It’s a highly fragmented market with smaller companies, and there’s plenty of opportunity to create scale by consolidation,” Zillmer said.
“We’ve been asked by our suppliers to get bigger in China to help them serve the marketplace better,” he added.
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