38
NEWS BULLETIN
CHEMICAL DISTRIBUTION
IMCD OPENS WITH A BANG
IMCD has reported first quarter revenues of €748.8m, up 6 per cent on the year earlier figure, with operating EBITA up 12 per cent at €70.9m and net profit up 13 per cent at €50.2m. “IMCD’s first quarter results were strong with an operating EBITA increase in all regions,” says CEO Piet van der Slikke. “In this extraordinary time, we are fortunate to be able to rely on our excellent staff and strong commercial relationships for the continuation of our business. Whilst adapting working practices to safeguard the health of our employees and business partners, we have been able to remain open for business, even in cases of severe lock-down restrictions. “However,” van der Slikke (below) continues, “with the duration of the Covid-19 crisis still unpredictable and the severity of its effect on the global economy yet unknown, it is difficult to quantify how it will impact our results in the months to come. We are nonetheless confident that IMCD’s resilient business model and strong financial position will enable us to continue to pursue opportunities for future growth.”
In other news, IMCD has opened a new office in Dubai, expanding its presence in the Middle East and allowing it to serve customers in Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, the UAE and Jordan. The opening follows on from IMCD’s first operations in the area when it opened an office in Cairo in 2018. Manuel Baumann has been appointed as regional managing director to drive IMCD’s growth strategy in the Middle East. “Throughout our operations around the globe, IMCD’s main focus has been to help our suppliers grow their business and to provide our customers the technical advice and formulatory support they need to create market leading and innovative products. Our principals in the Middle East needed a partner with these capabilities, and from this new office in Dubai, we will be able to provide them, as well as our customers, solutions that help them innovate and grow,” says Frank Schneider, business group director, coatings & construction. IMCD has also agreed to acquire the pharmaceutical business in China of Develing International Trade (Shanghai), a subsidiary
of the Dutch firm Develing that is involved in the sale and distribution of high-quality ingredients for the food, pharmaceutical, chemical and feed industries in China and Vietnam. The acquired business, which has annual sales of some €10m, will be integrated into IMCD China’s Pharma business unit. www.imcdgroup.com CALDIC BRINGS INDIA TO EUROPE
Caldic has secured a strategic partnership with Veeral Additives to distribute its portfolio of polymer additives in western Europe. Veeral has recently started production of the additives at a new site south of Mumbai, India, currently capable of manufacturing 24,000 tpa phenolic and phospite anti-oxidants, but with the intent to increase output to 40,000 tpa. “We believe that our customers will strongly benefit from our partnership with Veeral Additives,” says Tom de Bondt, Caldic’s European product manager, polymer additives. “It opens new doors and we will be able to provide our customers with tailor-made solutions adding value to their business. Caldic is looking forward to representing the Veeral Additives range of phenolic anti-oxidants and phosphites.” www.caldic.com HELM INVESTS IN CHILE
Helm AG has agreed to set up a joint venture with ACF Minera for the production and marketing of potassium nitrate and other products. Under the terms of the deal, ACF will expand potassium nitrate output from its mines in the Atacama Desert in Chile, while Helm will apply its established fertiliser network to distribute the product worldwide. “This is a landmark agreement for us, as we aim to develop our specialty fertiliser product line,” says Helm’s executive director Olivier Saulnier. ACF Minera’s CEO, Carlos de Urriticoechea, adds: “The partnership with Helm will increase our ability to compete and effectively reach many
HCB MONTHLY | JUNE 2020
