MOSCOW (MRC) -- Azelis, an innovation service provider in the specialty chemicals and food ingredients distribution industry, has made two acquisitions this month to date, both in South Korea, according to CHEManager.
The most recent agreement, announced on Jul. 14, is the proposed takeover of Seoul-headquartered Coseal, which specializes in the distribution, repackaging and blending of agricultural/horticultural surfactants.
This transaction is expected to close in the third quarter of 2021, when all of Coseal’s 45 employees, along with its owner and CEO Sang Jin Kang, will transfer to the Belgium-based distributor.
Nearly two weeks earlier, on Jul. 1, Azelis revealed it had purchased MH, a local distributor in the food ingredients market, providing the multinational specialty chemicals distribution group with a foothold in the food and health segment. Also headquartered in Seoul, MH is a family-owned business, supplying products such as gluten, starches, sweeteners and functional food ingredients.
Separately, Azelis completed the purchase of Vigon International on Jun. 2. Vigon is a leading US specialty distributor and manufacturer of ingredients for the flavors and fragrances market segments. The acquisition was first announced on May 5.
As MRC reported earlier, in June 2021, Azelis announced the extension of its distribution scope with CP Kelco in India, Indonesia, Malaysia and Thailand. CP Kelco’s product range is a significant addition to Azelis’ portfolio and the new agreement marks an important milestone in the strong and continuously developing collaboration between both companies globally.
We remind that Russia's output of chemical products rose in March 2021 by 5.4% year on year. Thus, production of basic chemicals increased year on year by 6.7% in the first three months of 2021. Production of polymers in primary form was 958,000 tonnes versus 861,000 tonnes in March. Overall output of polymers in primary form totalled 2,740,000 tonnes in the first quarter of 2021, up by 8.5% year on year.
Azelis is a leading distributor of speciality chemicals and food ingredients present in over 50 countries across the globe with around 2,200 employees. Our knowledgeable teams of industry, market and technical experts are each dedicated to a specific market within Life Sciences and Industrial Chemicals.