IMCD Buys China’s Shanghai Yuanhe Chemicals
"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 environmentally friendly coatings solutions," said Frank Schneider, business group director, IMCD Coatings & Construction.
Shanghai Yuanhe Chemicals generated revenue of €13.2 million in 2020 and will add 20 employees to the IMCD China team, as well as a full-scale formulation laboratory in Shanghai.
The acquisition is the third that IMCD has made in just a month. In May, it bought Andes Chemical and Siliconas y Quimicos, boosting its presence in the Latin American market.
Headquartered in Miami, Florida, USA, Andes is active in Central American and Caribbean countries, as well as Peru and Colombia, the latter being where Siliconas y Quimicas is also based.
Author: Elaine Burridge, Freelance Journalist