5 minute read
News bulletin – chemical distribution
NEWS BULLETIN
CHEMICAL DISTRIBUTION
CZECH MATE FOR BARENTZ
Barentz International has acquired Praguebased Conneco Chemicals, consolidating its growing position in the Czech market after taking a majority share in pharmaceutical distributor IMCoPharma last year.
“For us it is a great honour to work with a top entrepreneur like [Conneco founder and owner] Sarka Hronkova, who has built up an excellent reputation in her 26-year career,” adds Hidde van der Wal, CEO of Barentz. “I look forward to learning a lot from Sarka and Conneco and guiding them into the international business league.”
Conneco Chemicals was founded in 1994 and has become a specialist in formulating dietary supplements and blending ingredients for the sports nutrition, fitness & wellness, and health food markets in the Czech and Slovak Republics. In these markets, Conneco has built a leading position, with a focus on trendy lifestyle health food markets and the dynamically fast-growing market for sports nutrition, from professional bodybuilding to a variety of other sport activities suitable for a wider public. “With the support of Barentz we have great opportunities to expand and to internationalise Conneco’s activities,” Hronkova says. barentz.com
ALGOL HANDS OVER TO TRANSVAL
Algol Chemicals has transferred responsibility for warehousing its chemical production to Transval as from the start of 2022. Transval has been working with Algol at the latter’s warehouse in Espoo, Finland since 2014.
“Outsourcing chemical warehousing is a strategically significant development step, which gives us a new kind of flexibility and focus in our core operations,” says Algol Group CEO Alexander Bargum. “At the same time, we can be certain that the processing of chemicals will be carried out in a safe and competent manner even in the future. We are extremely confident that Transval will be an excellent partner for us in this development.”
Transval’s warehouses (below) and procedures are certified according to the ISO 9001, 14001 and 45001 standards, which require the active training of personnel, auditing of management and procedures as well as concrete exercises. Transval takes care of the statutory requirements related to chemicals on behalf of its customer companies.
“In chemical warehousing, we fulfil the requirements of the most comprehensive safety standards in Finland, our procedures are certified and we regularly organize rescue trainings with our personnel and the rescue department. We train our personnel with external actors and in our own training unit, Transval Academy,” says Ville Lumio, head of dangerous goods warehousing at Transval. www.algolchemicals.com www.transval.fi
COMSTAR PICKS CHEMPOINT
Univar’s ChemPoint.com has been appointed by ComStar International to market, sell and distribute its refrigerant products in the US. ComStar’s RS series of refrigerants offer a line of zero ozone-depleting and low global warming potential (GWP) solutions for a variety of industrial and commercial applications.
“We are excited about our new partnership with ComStar. As yesterday’s harmful refrigerant technologies are phased out, it is important to select an eco-conscious, environmentally friendly refrigerant,” says Rick Hoener, global managing director for ChemPoint. “ComStar’s advanced refrigerants are recognised for their quality and low global warming potential (GWP). Their 45 years of experience in manufacturing environmentally friendly chemistries is a perfect match with ChemPoint’s agile and innovative digital approach to providing superior customer service to the trade professional market.”
ComStar will continue to develop and deliver innovative refrigerant solutions for the consumer and industrial end markets such as aerospace, automotive, chemical processing, food and beverage, pharmaceuticals, while ChemPoint will leverage its technical expertise and high service level to reach new markets and applications.
“ComStar manufactures a comprehensive product line of environmentally safe, industrial strength chemical products for the trade professional,” says Steven Mella, CEO of ComStar. “ChemPoint’s unique customer support platforms set them apart from chemical distribution companies of the past. We’re confident that ChemPoint’s outreach tools and customer driven services will help extend the reach of ComStar’s state-of-the-art low GWP retrofit refrigerants, ultimately helping to reduce the carbon footprint of refrigerants.” www.univarsolutions.com
ASIA BOOST FOR IMCD
IMCD has reported a strong first half of 2020, with gross profit up 7 per cent on the year at €332.7m and operating EBITA also up 7 per cent at €131.4m. Revenues were up only slightly at €1.41bn.
“Although the market circumstances due to the Covid-19 crisis were challenging, in Q2 we were able to improve our operating EBITA by 4 per cent due to a strong performance in the Americas and APAC,” says CEO Piet van der Slikke (above). Revenues in the EMEA region were slightly down, despite the acquisitions of DCS Pharma and Zifroni Chemical either side of the turn of the year. Revenues also fell in the Americas division.
“At this moment, the economic consequences of the pandemic are uncertain,” van der Slikke adds. “Therefore, it is difficult to predict how the rest of the year will develop. Nonetheless, our focus is clear. We will continue to work on new projects and to execute our diversification strategy, not only geographically, but in our market segments as well. I am proud of the resilience of our Group and encouraged by the flexibility we have shown during this crisis, and confident in our company’s potential for future growth.”
Part of that diversification strategy has been demonstrated by IMCD’s agreement to acquire Signet Excipients Pte Ltd, one of India’s leading distributors of pharmaceutical excipients. IMCD is to acquire a 70 per cent shareholding from the founders and will take the remaining 30 per cent of the company by 2024.
Explaining the investment, van der Slikke says: “As India is the largest supplier of generic medicines globally, it is our ambition for our pharmaceutical business to have a strong presence there. Hence, I am pleased that Signet and IMCD will now join their activities in India, Bangladesh, the Middle East and Africa.”
“IMCD is an excellent partner for Signet, not only due to the similarity of our principals but moreover the culture of growth through deep market knowledge, technical innovation and highest levels of service,” adds Harish Shah, founder and managing director of Signet. “We look forward to being a strategic part of IMCD’s global pharmaceutical business.”
With its asset-light business model and long-term relationships with leading tier 1 global excipient producers, the acquisition of Signet by IMCD has a strong strategic rationale. It is an important step in IMCD’s strategy to become a leading global speciality pharmaceutical ingredient distributor and strengthens IMCD’s footprint in the high growth and resilient pharma excipient distribution market. It furthermore significantly strengthens IMCD’s presence in India and increases IMCD’s position in the high-growth Asia-Pacific region. www.imcdgroup.com
