Biesterfeld Group Expands Presence in Asia by Acquiring Majority Stake in GME Chemicals
HAMBURG, Germany/SINGAPORE - The Biesterfeld Group recently announced it has established a joint venture by acquiring a majority stake in Singapore-based GME Chemicals. The closing is now completed. A complete takeover of the remaining shares will take place in five years, according to the contract. The parties have agreed not to disclose details of the transaction.
By acquiring a stake in GME Chemicals, one of the leading distributors of specialty chemicals and polymers in Southeast Asia, Biesterfeld reports that the company is continuing its geographic expansion and growth strategy and laying the foundation for a targeted and long-term expansion of its market position in one of the world's fastest growing regions in its core business.