IMCD Korea enhances growth momentum in the coatings and construction market with the acquisition of Needfill
27 Setembro 2023 - 2:00AM
IMCD Korea enhances growth momentum in the coatings and
construction market with the acquisition of Needfill
ROTTERDAM, The Netherlands (September 27, 2023)
– IMCD N.V. ("IMCD" or "Company"), a global leading
distribution partner, formulator of speciality chemicals and
ingredients, today announces that IMCD has signed an agreement to
acquire 100% of the shares of the speciality distribution company
Needfill Co., Ltd. in South Korea ("Needfill").
Established in 1991, Needfill has long-standing partnerships
with some of the leading global suppliers and serves the paint,
coatings, inks, textiles, electronics, and polymer markets.
Needfill, based in Seoul, generated a revenue of approximately KRW
26.2 billion (ca. EUR 18 million) in 2022 and has 18 employees. "As
we look ahead, the coatings market in South Korea has an exciting
growth potential. Having Needfill join us provides a strong
addition to our coatings and construction business, enhancing both
our range of services and portfolio," said Henri Kwon, Managing
Director of IMCD Korea. “We are confident that Needfill's dedicated
team will support our business expansion, reinforcing our presence
in the Korean market," concluded Kwon.
"Needfill has continuously grown, earning recognition as a
respected company for over 30 years. With IMCD's global network,
expertise, and a strong commitment to sustainability, I'm confident
that together we will significantly enhance our growth potential",
commented Chris Lee, CEO of Needfill. "My team has been a vital
asset to the company, and I believe they will have even more
opportunities to develop and maximise their potential with
IMCD."
The closing of the transaction is subject to customary closing
conditions and is expected to take place in the fourth quarter of
2023.
Attached, the full press release in pdf format, the main visual
and the photo caption.
- Photo caption_IMCD Korea enhances growth momentum in the
coatings and construction market with the acquisition of
Needfill
- Photo_IMCD Korea enhances growth momentum in the coatings and
construction market with the acquisition of Needfill
- Press release_IMCD Korea enhances growth momentum in the
coatings and construction market with the acquisition of
Needfill
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