MOSCOW (MRC) -- Brenntag, the global market leader in chemical distribution, enters into a joint cooperation with 51% ownership in chemical distributor Trychem FZC, Dubai, United Arabic Emirates (UAE), said the producer in its press release.
Trychem is active in the distribution of solvents serving the paint, ink and coatings industries mainly in the UAE, Saudi Arabia, Bahrain, Oman, Egypt and East Africa. In addition, the company offers mixing, blending, packaging and labeling capacities. In a first step, Brenntag will hold 51% and Tri Star Transport LLC/JRA Holding 49%.
Germany-based Brenntag reported a 31.2 per cent increase in second quarter net-profit. The company’s quarterly earnings attributable to shareholders were 107.2 million euros over the three months to June 30.
Tristar acquired Trychem from Emirates National Oil Company (Enoc) in 2013. The company was previously branded as Enoc Chemicals.
The Middle East is a fast growing region with ongoing investments in chemical production. The chemical distribution market is still fragmented and consolidation offers significant potential for global players like Brenntag.
As MRC informed earlier, in June 2015, Evonik and Brenntag agreed to cooperate on hydrogen peroxide and peracetic acid for pharma and cosmetics markets.
Brenntag is the global market leader in full-line chemical distribution. Linking chemical manufacturers and chemical users, Brenntag provides business-to-business distribution solutions for industrial and specialty chemicals globally. The value-added services include just-in-time delivery, product mixing, formulation, repackaging, inventory management, drum return handling as well as extensive technical support. Headquartered in Mulheim an der Ruhr, Germany, the company operates a global network with more than 400 locations in 70 countries.
MRC