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Sunday, 22 September 2019
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Markets & companies, Raw materials market

Velox expands portfolio to include composites product range

Thursday, 4 October 2012

The acquisition of Azelis’ composites business provides Velox with market entry into new countries, in particular the Scandinavian region.

By acquiring Azelis’ composites business, Velox strengthens its market position in Europe. Source: Konstantin Gastmann/Pixelio.de

By acquiring Azelis’ composites business, Velox strengthens its market position in Europe. Source: Konstantin Gastmann/Pixelio.de

Velox, a Hamburg/Germany-based distributor of raw material specialties, has acquired the composites business of the Belgian Azelis Group. At the time of acquisition this business area comprises some 50 employees in 12 European countries and reports turnover of around EUR 50 million.

Velox, established in 1993 by Bernard Goursaud and Max Schlenzig, is a European distributor of raw material specialties for the plastics, rubber and paints & inks industries. The composites business is a logical complement to the company’s current product portfolio and furthermore, provides the group with market entry into new countries, in particular the Scandinavian markets of Norway, Finland and Denmark. The acquisition also complements the existing business in other countries such as France, Italy, Poland and Czech Republic and significantly strengthens the sales teams already active there.

The acquisition of Azelis’ composites business is an important strategic step for the distribution company on the path to achieving the ambitious growth targets that the privately managed group has set for itself over the next few years. Its European presence is now almost seamless and with this expansion of its product range, the new business area enables the company to strengthen its market position clearly.

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