MOSCOW (MRC) -- Azelis is delighted to announce that it has signed an agreement to acquire 100% of the shares of Ixom’s Bronson and Jacobs Hong Kong Ltd business and its fully owned subsidiary in Shanghai (Bronson and Jacobs China), said the company.
Bronson and Jacobs China, specialized in the distribution of personal care ingredients and predominantly for skin care, represents many global principals, and has offices in Hong Kong, Shanghai and Guangzhou. The office in Guangzhou houses a personal care lab.
The acquisition of Bronson and Jacobs China, following on the acquisition of CosBond in April 2020, will additionally strengthen Azelis’ footprint in the Chinese personal care market. It will also enable Azelis to better serve several key multinational customers in China. Growth in China, the second largest economy worldwide, is a prime strategic objective for Azelis. The transaction, consistent with Azelis' corporate strategy of complementing organic growth with strategic acquisitions, is expected to close within two months.
The acquisition of Bronson and Jacobs China illustrates the support provided by EQT since the initial acquisition of Azelis. EQT is confident that the expanded range of services and global reach provided by this acquisition will continue to bring benefits to customers and principals of the combined group.
As MRC informed earlier, Azelis has opened a new application and training center in Istanbul, Turkey. This center will service the Turkish food, personal care and pharma markets and will offer product advice, formulation development and technical research. Next to that, it will host customer meetings, interactive formulation workshops, supplier meetings and internal technical trainings.
We remind that Russia's output of chemical products rose in September 2020 by 6.7% year on year. At the same time, production of basic chemicals increased by 6.1% year on year in the first nine months of 2020, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-September output. Last month's production of primary polymers decreased to 852,000 tonnes from 888,000 tonnes in August due to shutdowns in Tomsk, Ufa and Kazan. Overall output of polymers in primary form totalled 7,480,000 tonnes over the stated period, up by 16.4% year on year.