Dutch speciality chemicals distributor IMCD (Rotterdam; www.imcdgroup.com) has acquired China’s Shanghai Yuanhe Chemicals (Shanghai; www.yuanhechemical.com) to boost its Chinese subsidiary’s technical capabilities with the addition of a full-scale formulation lab in Shanghai. Financial details of the deal were not disclosed.

Established in 2003, Shanghai Yuanhe Chemicals is a specialty coatings, textile and ink solution distributor serving 1,500 customers across China. It generated revenue of EUR 13.2m in 2020 and brings 20 employees on board the IMCD China team. IMCD generated revenue worth EUR 2.77 bn in 2020 with nearly 3,300 employees in over 50 countries on six continents (see Plasteurope.com of 17.03.2021).

Frank Schneider, business group director of IMCD Coatings & Construction, said, “Combining forces with Yuanhe provides IMCD a strategic move into the China coatings market and complements the sustainability ambition of our global coatings and construction business group with a strong focus on environment-friendly coatings solutions.”

Sherry Li, MD of Shanghai Yuanhe Chemicals, said, “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.”