Azelis Announces Acquisitions That Strengthen Presence in Chinese Market
LUXEMBOURG — Azelis is reinforcing its presence in the Chinese market with the acquisition of a 100% stake in WWRC (China) Holdings Ltd. and Friendship Chemical Co. Ltd. Azelis reports that these 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 transaction was signed in summer 2021 and is expected to close in October 2021.
The acquisition of WWRC China and Friendship Chemical broadens Azelis’ offering and geographic reach in the Chinese market. Additionally, both acquisitions provide a base for expansion into the industrial chemicals sector in the wider Asia-Pacific region. The company reports that these transactions are aligned with Azelis’ strategy to support global coverage with local teams and complement organic growth with strategic value enhancing acquisitions.