IMCD China has signed an agreement to acquire Aquatech Speciality (Shanghai) International Trading Co, Ltd and Aquatech Speciality (Guangzhou) Trading Co, Ltd (“Aquatech”) in China.
Since its establishment in 2004, Aquatech has been active in waterborne solutions in coatings, ink and textile industries. Aquatech generated a revenue of approximately RMB51M (ca. €6.7M) in 2020 and adds 10 employees to the IMCD China team. Aquatech’s coatings business enhances the future focused portfolio of IMCD Coatings & Construction Business Group in China.
“Aquatech’s philosophy of value creation matches perfectly with IMCD’s strategy to become a strong partner for our customers and suppliers for sustainable coatings solutions in China” commented Andreas Igerl, Managing Director of IMCD China.
“Today is a significant day for Aquatech as we join IMCD as part of their global network. With IMCD’s global connection and technical expertise, plus our local presence and capability, I am confident that we will provide more added value to our customers and partners to drive sustainability in the coatings industry,” said Peter Shek, owner of Aquatech.
The closing of the transaction is expected to take place in November.