Brenntag Expands in Asia-Pacific with TAT Buy
Global chemical distribution group Brenntag will broaden its base in Asia-Pacific with the planned acquisition of TAT Group, a Singapore-based distributor of industrial chemicals.
The transaction is expected to close in Q4 2015, subject to the approval of shareholders of TAT’s holding company and certain other closing conditions.
With its Singapore base and subsidiaries in South Korea, Vietnam, Hong Kong and Indonesia, TAT supplies a broad product range of solvents and related products to international customers, covering supply chain requirements and value added services including blending, packaging, storage and logistics facilities. The business is expected to generate sales of around €145 million this year.
Brenntag CEO Steven Holland said the acquisition is a significant complement and important investment in enhancing Brenntag’s geographic and strategic position in Asia Pacific.