Azelis is reinforcing its presence in the Chinese market with the acquisition of a 100% stake in WWRC China and Friendship Chemical. The acquisitions will provide a strong foothold in the CASE (coatings, adhesives, sealants, and elastomers) and R&PA (rubber and plastic additives) industrial chemicals segments, further strengthening the Group’s lateral value chain.
The acquisition of WWRC China and Friendship Chemical broadens Azelis’ offering and geographic reach in the Chinese market. Both acquisitions provide a base for expansion into the industrial chemicals sector in the wider Asia Pacific region. These transactions are aligned with Azelis’ strategy to support global coverage with local teams and complement organic growth with strategic value-enhancing acquisitions.
Acquisition to Boost CASE Business
Founded in 1990, WWRC China is a Chinese distributor in the CASE and R&PA market segments and offers innovative and enhanced offerings through the use of laboratories. Friendship Chemical is a distributor of herbal oil ingredients.
This transaction was signed in summer 2021 and is expected to close in October 2021.
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WWRC has built a strong market presence in China. Combining our strengths with Azelis’ will allow the company to improve its services and product offerings to partners. Joining forces will also allow WWRC to strengthen its technical expertise and formulation development,” said Mr. Ching Kiu Wong, the majority shareholder of WWRC China and sole owner of Friendship Chemical.
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This union will grow Azelis’ business in the industrial chemicals sector as WWRC China’s segments are highly complementary to Azelis China’s. WWRC China has relationships with large Chinese suppliers, creating opportunities to expand with these principals worldwide. Azelis also share the same vision and focus on sustainability and commitment to partners. The addition of WWRC China’s offices increases geographical coverage in China and serves our customers,” said Mr. Laurent Nataf, CEO & president of Azelis Asia Pacific.
Source: Azelis