IMCD (Rotterdam / The Netherlands; www.imcdgroup.com) has acquired Singapore-based Paceco Industrial Supplies (www.paceco-is.com). The company distributes engineering and speciality plastics in Singapore, Malaysia and China to a wide range of industries including E&E, medical devices, home appliances, toys, construction, automotive, aerospace and military. Financial details of the deal have not been disclosed.

The Dutch company's latest acquisition is further proof of the importance China and South-east Asia are in terms of the company's growth and development strategy. In 2011 the company opened a regional headquarters in Singapore – see Plasteurope.com of 11.11.2011. Albert Stevens, a vice president at IMCD, noted,“This new deal will greatly complement our plastics business in China and will provide a platform for further expansion in South-east Asia.” IMCD also announced that George Chong, one of the Paceco founders, will remain managing director of the firm, which currently employs 28 staff, all of whom are transferring to the IMCD organisation.

The speciality chemicals and food ingredient distributor recorded annual revenues of USD 1.4 bn USD (EUR 1 bn) in 2012 and employs 1,250 individuals with business activities in 39 countries.