IMCD China acquires Shanghai Yuanhe Chemicals
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.
Full-scale formulation lab in Shanghai
The acquisition is intended to 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.
“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,” said Frank Schneider, Business Group Director, IMCD Coatings & Construction.