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GROWTH MARKETS
IMCD HAS ACQUIRED Shanghai Yuanhe Chemicals, a specialty coatings, textile and ink solution distributor for the China market. Yuanhe generated sales of €13.2m in 2020 and will add 20 employees to the IMCD China team. “Combining forces with Yuanhe provides IMCD a strategic move into the China coatings market and complements the sustainability ambition of our global Coatings & Construction Business Group with a strong focus on environmental-friendly coatings solutions,” says Frank Schneider, business group director, IMCD Coatings & Construction.
presence and customer base, we will create many more opportunities for our loyal customers and principal partners. We look forward to the integration with IMCD.” The acquisition will boost IMCD China’s technical capabilities with the addition of a full-scale formulation lab in Shanghai, further strengthening IMCD’s global network of technical centres, the company states. LATIN EXPANSION IMCD has also acquired Andes Chemical Corp, marking its entry into the chemical distribution business in Central America and
IMCD Americas. “We are delighted to welcome the Andes Chemical team to further enhance IMCD’s Americas footprint and offering.” Andes Chemical, based in Miami, Florida, was founded in 1986 and generated revenues of $46m in 2020. It mainly serves the CASE, construction, cosmetics, personal care, plastics, pharmaceutical and HI&I sectors. “We are ready to accelerate the growth potential with IMCD in the region and are confident that the enhanced commercial capabilities and global network of formulatory specialists will add great value to both our supplier partners and customers,” says Fernando J Espinosa Jr, president of Andes Chemical. “IMCD has displayed impressive growth over the past 25 years, so joining the company to further progress its storyline together is an exciting opportunity for us and our partners.” The Andes acquisition was announced just a few days after IMCD acquired an 80 per cent shareholding in the Colombia-based specialty chemicals distributor Siliconas y Químicos.
Sherry Lee, owner and managing director of Yuanhe, comments: “We are excited to join IMCD to make a difference in the marketplace of coatings, textile and ink solutions through technical expertise and global connections. With IMCD’s reputation for professionalism and industry focus, plus Yuanhe’s strong local
Peru and further strengthening its presence in Latin America. “Andes Chemical’s focus on speciality chemicals and strength in a number of IMCD’s core markets was an excellent fit and perfectly complements the presence we have in the region,” says Marcus Jordan, president of
IMCD expects to take full control of the company during 2022. Immediately following the investment, Pilar Castellanos Pineda, co-founder and general manager of Siliconas y Químicos, was appointed managing director of IMCD Colombia, replacing Oscar Clavijo, who is to retire shortly.
ACQUISITIONS • IMCD HAS CONTINUED ALONG ITS GROWTH PATH, MAKING THREE SIGNIFICANT INVESTMENTS IN RECENT MONTHS IN CHINA AND LATIN AMERICA
HCB MONTHLY | SEPTEMBER 2021
