IMCD, a global distribution partner and formulator of specialty chemicals and ingredients, announced that IMCD India has signed an agreement to acquire two business lines from CJ Shah & Company for cellulose acetate butyrate, coalescing agent, polyolefin polymers, and other chemicals primarily for paints, coatings, adhesives, and lifesciences applications.
With 20 employees, these businesses generated a revenue of €25 million in the financial year that ended on March 31, 2023. They serve a large group of customers with an extensive portfolio of products alongside commercial, technical, and laboratory support.
"India has experienced rapid growth in automobile, construction, and infrastructure, driving increased demand for coatings and adhesives. Acquiring these businesses strategically enhances our capabilities and product lines, positioning us as the market leader in coatings and construction," said Narendra Varde, managing director, IMCD India & Bangladesh.
“We are delighted to partner with IMCD for two of our business lines and we wish them all the best,” said Apurva Shah, managing partner, CJ Shah & Company.
To learn more, visit www.imcdgroup.com.