Univar to Buy China Silicone Distributor
Univar Solutions China, a wholly owned subsidiary of US chemical distributor Univar Solutions, has agreed to acquire Zhuhai Techi Chem Silicone Industry Corp. for an undisclosed sum. The deal is expected to close in mid-December.
Techi Chem distributes specialty silicone solutions used primarily in the coatings, adhesives, sealants and elastomers (CASE) market.
“Our customers throughout China will benefit from Techi Chem's strong relationship with the leading global silicone supplier as well as Univar Solutions' global silicone expertise and network of technical Solutions Centers that will provide comprehensive solutions for the Chinese market,” commented Nick Powell, president, specialty chemicals and ingredients, and president EMEA & APAC at Univar Solutions.
In August, Univar Solutions launched its Streamline 2022 program to accelerate growth and increase earnings, which it said may also result in selling certain non-core assets. The distributor aims to renew its focus on operational efficiency and cost reduction with a greater emphasis on digital capabilities.
Author: Elaine Burridge, Freelance Journalist
