Algol Chemicals Buys India’s Dynamic Orbits
Finnish distribution company Algol Chemicals has completed the acquisition of Dynamic Orbits, a specialty chemicals distributor based in Delhi, India. The purchase price was not revealed.
Dynamic Orbits, which has offices and warehouses in Delhi and Mumbai, is focused on the polymers, coatings and life sciences markets. It also offers sourcing and regulatory services for complying with Europe’s REACh regulation.
Juha Jokinen, Algol Chemical’s managing director, said the acquisition is a unique opportunity to enter the fast-growing Indian market. B. L. Bajaj, the founder of Dynamic Orbits, described the purchase as a turning point in its growth strategy.
The Indian company has become a wholly owned subsidiary of the Algol Chemicals Group which has total annual sales of more than €200 million.