IMCD China diversifies its business with the acquisition of Welex
Speciality chemicals distributor IMCD has signed an agreement to acquire 100% of the shares of the speciality distribution company Welex and certain related business.
Welex represents a wide range of global suppliers providing its customers with an extensive portfolio backed by technical and logistical services. Welex focuses on industries covering coatings and inks, textiles, additives for speciality compounding, and agrochemicals. Welex generated a revenue of approximately EUR 39 million in 2021 and has 68 employees in Hong Kong, Beijing, Shanghai, Guangzhou, and Qingdao offices.
“Opens the door for us to diversify our coatings, paint and ink business”
Welex adds a coatings and agrochemicals application laboratory to IMCD’s global network of technical centres. The closing of the transaction is expected to take place at the earliest of 31 October 2022.
“The addition of Welex opens the door for us to diversify our coatings, paint and ink business, enter the fast-growing agrochemical market and develop into the highly valuable speciality compounding application. In particular, we gain the geographical expansion across China with a strong presence in the Southern part,” commented Andreas Igerl, Managing Director of IMCD China. “This is an important milestone for us as we continue our growth momentum with the diversification of our business.”
