HCS to Acquire Shu-Chem of Texas
Frankfurt, Germany-based HCS Group, driving forward its expansion into the US market, has announced it will acquire Shu-Chem Holdings, based at Manvel near Houston, Texas. Since 1983, Shu-Chem has produced alcohols and esters mainly for the pharmaceutical aand printing industries.
“The US market is a strategic target in our international growth strategy,” said Uwe Nickel, CEO of HCS, which owns the brands Haltermann and Carless.
“With the acquisition of Shu-Chem, we will not only gain a production basis in North America but at the same time will extend our offerings for the US market,” he added.
Nickel said the two companies complement each other “ideally,” as both have a similar business model.
For the US company, being acquired by HCS, a leading international producers of high-end hydrocarbons and other specialties, also has advantages, said Sue S. Schwartz, Integration into the German firm’s structure “will set the stage for further growth and innovation,” Schwartz said.
