Azelis expands presence in Germany
15 November 2006
In line with the Azelis group’s declared strategy to expand their focus on the Coatings and Plastics sectors, the company has just completed the acquisition of Thorson Chemical GmbH.
With headquarters in Dusseldorf, Thorson Chemical has sales of €15 million largely into Paint and Printing Inks, PVC additives and Plastic, Resin and Rubber applications.
Commenting on the deal, Azelis CEO Udo Wenzel said: “Azelis now has strong geographical presence in these important market sectors in every major European country with the exception of Spain which we expect to have covered in 2007. Thorson’s areas of activity complement the established focus we have in Germany on Life Sciences – Pharma, Food Additives and Cosmetics through our company, Kraemer & Martin. This acquisition will reinforce our presence in the Coatings and Plastics sectors.
“Whilst all 17 staff and management of Thorson will remain in place following the 100% share transfer, we will over time integrate the central functions such as finance, logistics and administration of the two German partners as we have done throughout the rest of the Group.”