Addition of Monachem Additives to enhance “Advanced Materials” Footprint
Specialty chemicals and food ingredients distributor IMCD N.V. (Rotterdam, The Netherlands) announced that it has acquired 100% of the outstanding shares of Monachem Additives Private Limited and Addpol Chemspecialities Private Limited [together “Monachem Additives”] (Vadodara, Gujarat – India) for an undisclosed amount. The two businesses will be integrated into IMCD’s existing organisation by 2020.
Monachem Additives was astablished in 1974 and sells a broad range of additives, particularly to the Plastics industry. In FY 2018/19 (ending 31. March 2019), the company had revenues of INR 800 mn (ca. EUR 10 mn) and employed a staff of 22 persons, IMCD said in the announcement.
IMCD plan is to enhance its footprint in the “Advanced Materials” sector. It is paying the consideration from available cash and existing facilities. No financial details were disclosed on the transaction.
Source: IMCD press release
HGE – DCG / 20.09.2019