IMCD India to acquire two business lines from CJ Shah & Company

ANI PR Wire
14 Nov 2023, 15:01 GMT+10

BusinessWire India

Mumbai (Maharashtra) [India], November 14: "IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, and formulator of speciality chemicals and ingredients, today announces 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 approximately INR 2,300 million (ca. ~EUR 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.

The closing of the transaction is subject to customary closing conditions and is expected to take place in the last quarter of 2023.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Myanmar Sun.

More Information

31 ℃

Fair in Mae Hong Son

Southeast Asia

Section

Tragic love story ends in bloodshed: Six killed, 24 face life imprisonment

KATHMANDU, Nepal - The Rukum Paschim District Court sentenced 24 people to life in prison for their roles in the ...

Twenty-two dead, 1 still missing as Marapi volcano erupts in Indonesia

JAKARTA, Indonesia: The death toll from the eruption of Indonesia's Marapi volcano surged to 22 as rescuers discovered additional climbers ...

Forbes power play: Hasina dropped to 46th in 2023 from 42nd in 2022

DHAKA, Bangladesh - PM Sheikh Hasina is ranked 46th on Forbes' list of the World's 100 Most Powerful Women in ...

Raiwind to Karachi: Hunt for Persian-speaking robbers ends with OCU's swift action

LAHORE, Pakistan - According to the Lahore police Organized Crime Unit (OCU), a gang of robbers has been arrested in ...

No casualties reported after Marapi volcano erupts in Indonesia

BUKITTINGGI, Indonesia: On December 2, Mount Marapi in West Sumatra province, Indonesia, erupted, sending hot ash clouds several miles (kilometers) ...

Borders in turmoil: Junta's warning as coordinated offensives shake Myanmar

NAYPYITAW, Myanmar - Myanmar's junta chief has urged ethnic armed groups fighting the military across the country to find a ...

International

Section