IMCD has acquired Shanghai Yuanhe Chemicals in China.
Yuanhe, established since 2003, is a specialty coatings, textile and ink solution distributor for the China market. It generated a revenue of EUR 13.2 million 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,” says Frank Schneider, business group director, IMCD Coatings & Construction.
“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. With IMCD’s reputation for professionalism and industry focus, plus Yuanhe’s strong local presence and customer base, we will create many more opportunities for our loyal customers and principal partners. We look forward to the integration with IMCD,” comments Sherry Li, owner and managing director of Yuanhe.
Full-scale formulation lab
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.