16 November, 2023 11:17:08 IST 
IMCD, the Dutch distributor and formulator of speciality chemicals and ingredients, has announced that its Indian unit has signed an agreement to acquire two business lines from CJ Shah & Company for cellulose acetate butyrate, coalescing agent, polyolefin polymers, and other chemicals primarily for paints, coatings, adhesives and lifesciences applications.
With 20 employees, these businesses generated a revenue of approximately Rs 230-crore in the financial year that ended on March 31, 2023. They serve a large group of customers with an extensive portfolio of products alongside commercial, technical, and laboratory support.
“India has experienced rapid growth in automobile, construction, and infrastructure, driving increased demand for coatings and adhesives. Acquiring these businesses strategically enhances our capabilities and product lines, positioning us as the market leader in coatings and construction,” said Mr. Narendra Varde, Managing Director, IMCD India & Bangladesh.
“We are delighted to partner with IMCD for two of our business lines and we wish them all the best,” said Mr. Apurva Shah, Managing Partner, CJ Shah & Company.
