Clariant to Acquire Chinese Healthcare Packaging Firm
In a deal expected to be completed in the fourth quarter, Swiss specialty chemicals producer Clariant plans to acquire Hong Kong-based healthcare packaging manufacturer VitaPac.
The privately owned company has sales of 4 million Swiss francs, 80 employees and a production site in Dongguan, China.
VitaPac develops and manufactures high-end protective packaging solutions for the pharmaceutical, neutraceutical and food industries as well as for the logistics and electronics sectors, mainly in Asia-Pacific.
Focusing on active sorbents, the Chinese company has a leading market position for desiccant packets for moisture adsorption, Clariant said, adding that VitaPac maintains a Drug Master File (DMF) with the FDA, and its products comply with all pertinent regulations for use in direct contact with food and drugs.
The acquisition is designed to complement the portfolio of Clariant's Medical Specialties business line within its Masterbatches business unit. The Swiss chemical producer said the buy will help it to gain increased market share in important emerging markets in Asia but also in other regions.
Clariant said the acquired Chinese plant at Dongguan plant will enlarge its global footprint, furthering the reach to multinational pharmaceutical industry customers.
