Mülheim an der Ruhr, Germany – Chemical distributor Brenntag has signed an agreement to acquire TAT Group, a Singapore-based distributor for industrial chemicals. The company’s facilities in Singapore cover supply chain requirements and value-added services including modern blending, packaging, storage and logistics facilities. TAT offers its local and overseas customers a broad product range of solvents and related products via its subsidiaries in Singapore, South Korea, Vietnam, Hong Kong and Indonesia.
Steven Holland, CEO Brenntag Group, commented, “TAT has a strong market position and reputation as well as high coverage in Southeast Asia, Hong Kong and South Korea. The acquisition is a significant complement and important investment into Brenntag’s geographic and strategic position in Asia-Pacific. TAT’s distribution network serves a broad customer base in the coatings, pharmaceutical, plastics, electronics and other industries and will contribute to further enhance Brenntag’s relationships with its global key accounts as well as major suppliers.”
The business is expected to generate total sales of approximately €145 million in the financial year 2015. Closing of the transaction is expected in the fourth quarter of 2015, subject to the approval of shareholders of TAT’s holding company and certain other closing conditions.