Expansion in Asia-Pacific with Life Science, Electronics and Research & Diagnostics Investment
Global chemical distributor Brenntag AG (Essen, Germany) last week announced that it has signed an agreement to acquire 51% of the shares of Tee Hai Chem Pte Ltd [“TEEHAI”] (Singapore, Singapre) for an undisclosed sum. The company is providing supply chain solutions for materials, chemicals and services for the Life Sciences, Electronics manufacturing and Research & Diagnostics sectors in Singapore and Southeast Asia.
According to the announcement, TEEHAI’s product portfolio “consists of raw materials, consumables as well as high purity specialty chemicals. Other products include research and diagnostics chemicals, chemical delivery systems and Maintenance, Repair and Operations (“MRO”) supplies. In addition, the company offers customisable supply chain solutions including external warehousing.”
For 2018, the business reported total sales of approx. EUR 110.8 mn. Completion of the transaction is expected to occur in the course of the next few weeks, subject to contractually agreed closing conditions.
Source: Brenntag press release
HGE – DCG / 18.03.2019