IMCD India to acquire two business lines from CJ Shah & Company
IMCD announces that IMCD India has signed an agreement to acquire two business lines from CJ Shah & Company.
The two business lines provide Cellulose Acetate Butyrate, Coalescing Agent, Polyolefin Polymers, and other chemicals primarily for Paints, Coatings, Adhesives and Lifesciences applications. “Acquiring these businesses strategically enhances our capabilities and product lines, positioning us as the market leader in coatings and construction,” said Narendra Varde, Managing Director, IMCD India & Bangladesh.
Extensive portfolio of products
With 20 employees, these businesses generated a revenue of approximately EUR 25 million in the financial year that ended on March 31, 2023. According to a press statement, they serve a large group of customers with an extensive portfolio of products alongside commercial, technical, and laboratory support. The closing of the transaction is subject to customary closing conditions and is expected to take place in the last quarter of 2023.
