China: Speciality Coatings IMCD China Acquires Shanghai Yuanhe Chemicals
Shanghai Yuanhe Chemicals (Yuanhe), a player specializing in specialty coatings, textile and ink solution distributor for the China market has been acquired by IMCD China, one of the major distributors of speciality chemicals and ingredients in China.
Rotterdam/The Netherlands – Yuanhe, a specialty coatings, textile and ink solution distributor for the China market, generated a revenue of 16 million dollars in 2020 and adds 20 employees to the IMCD China team. This enhances the portfolio of IMCD China which serves the pharmaceutical, food and nutrition, plastics, and personal care industries.
“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 environmental-friendly coatings solutions,” said Frank Schneider, Business Group Director, IMCD Coatings & Construction.
Combining forces with Yuanhe provides IMCD a strategic move into the China coatings market.
“We are excited to join IMCD to make a difference in the marketplace of coatings, textile and ink solutions through technical expertise and global connections,” commented Sherry Li, Owner and Managing Director of Yuanhe.
The acquisition will boost IMCD China’s technical capabilities with the addition of a full-scale formulation lab in Shanghai, further strengthening IMCD’s global network of technical centres.