IMCD India expands its Advanced Materials Footprint with the acquisition of Tradeimpex Polymers
Apr 06, 2023
Mumbai (Maharashtra) [India], April 6 (ANI/BusinessWire India): IMCD N.V. ("IMCD" or "Company"), a leading distributor of speciality chemicals and ingredients, today announces that IMCD India has signed an agreement to acquire 100% of the shares of Tradeimpex Polymers (India) Private Limited ("Tradeimpex"), a distributor of high-performance polymers and engineering plastics.
Established in 2003 and headquartered in Gurgaon, Haryana, India, Tradeimpex distributes products from leading international suppliers and predominantly serves the mobility market in India. With 24 employees, Tradeimpex generated a revenue of approximately INR 3500 million (ca. EUR 39 million) in the financial year that ended on March 31, 2022. The company represents leading global suppliers and serves a large group of customers with an extensive portfolio of products alongside commercial and technical support.
"India is a dynamic market, with promising growth prospects, especially in the mobility sector. Tradeimpex is well established in this sector with its professional sales team and high-performance materials sourced from top-tier suppliers. Complementary to our current Advanced Materials business, this acquisition will enhance our presence in India and expand our offerings to the customers. The founding team of Tradeimpex will continue to work along with IMCD, post the completion of the transaction," said Olivier Champault, Business Group Director, IMCD Advanced Materials.
"It is a privilege to join hands with IMCD and expand in high-growth performance polymers and engineering plastic markets in India. We continue to remain committed to support and service our clients and suppliers," says Shailendra Negi, Founder President.
The closing of the transaction is subject to customary closing conditions and is expected to take place in the second quarter of 2023.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
