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Brenntag Completes First Phase of Acquisition of Zhong Yung International Chemical
12:09 AM MDT | August 18, 2011 | Deepti Ramesh
Brenntag says it has completed the previously announced acquisition of 51% stake in Zhong Yung International Chemical (Hong Kong), a chemical distributor focused on the solvent industry. Acquisition of the remaining stake is scheduled for 2016. Financial terms of the deal were not disclosed. The plans for the acquisition were first announced in June 2011. With the acquisition, Brenntag gains market access to China, the world’s fastest-growing chemical market, and the company acquires over €200 million of sales expected for 2011, Brenntag says. Zhong...
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