Azelis strengthens its presence in China
Azelis is reinforcing its presence in the Chinese market with the acquisition of a 100% stake in WWRC China and Friendship Chemical.
These acquisitions are intended to provide a strong foothold in the CASE (coatings, adhesives, sealants and elastomers) and R&PA (rubber and plastic additives) industrial chemicals segments and to further strengthen the Group’s lateral value chain. According to Azelis, both acquisitions provide a base for expansion into the industrial chemicals sector in the wider Asia Pacific region.
Transaction is expected to close in October
Founded in 1990, WWRC China is a leading Chinese distributor in the CASE and R&PA market segments. From its five offices in Hong Kong, Guangzhou, Tianjin, Shanghai and Chengdu, WWRC China serves around 3,000 customers. WWRC China’s 91 employees will all join Azelis. Headquartered in Hong Kong, Friendship Chemical is a prominent player in the distribution of herbal oil ingredients.
The transaction was signed in summer 2021 and is expected to close in October 2021.
