Financing is in place and a series of acquisitions over the next 18 months will create a major player in European polymer distribution, said Fields, formerly chief operating officer at European distributor Azelis.
Fields told ICIS he aims for sales of E300-E400m within 2-3 years. It may contain Azelis Plastics, the polymers arm of Azelis, which is currently conducting a strategic review of its organisation. “The Azelis review has a number of options one of which is to divest its polymers,” said Fields, adding that Allandis has separate funding and will be independent of Azelis.
Polymer distributors exist on wafer-thin margins so it will be fascinating to see if this is a successful venture. Fields certainly sounded confident when I interviewed him this morning.