SINGAPORE - Brenntag, a chemical distribution company, signed a purchase agreement to acquire 100 percent of Zhong Yung (International) Chemical Ltd. Brenntag will hold a majority stake of 51 percent and will acquire the remaining stake in 2016. Entering into a joint venture for five years gives Brenntag the opportunity to use the experience and know-how of Zhong Yung and its management team to establish a solid business platform for Brenntag in China.
Henri Néjade, President of Brenntag Asia Pacific, said “It is a significant milestone in Brenntag’s Asian business development following the successful acquisition of EAC Industrial Ingredients in 2010. We are delighted to team up with Zhong Yung because it opens the opportunity for further growth in China. Zhong Yung is a major chemical distributor with about 2,000 customers, more than 100 suppliers, and has an excellent infrastructure including laboratories, blending and storage capabilities.”
Brenntag to Purchase Chemical Distributor in China
June 26, 2011