ROTTERDAM, The Netherlands (23 August 2022) - IMCD N.V. ("IMCD" or "Company"), a leading distributor of speciality chemicals and ingredients, today announces that it has signed an agreement to acquire 100% of the shares of PromaPlast Resinas, S.A. de C.V., Proveedora de Materiales Plásticos, S.A. de C.V. and PromaPlast USA Inc. (jointly "PromaPlast"), an advanced materials distributor which serves the Mexican and U.S. markets.
"The acquisition of PromaPlast is an exciting step into a major new market for IMCD México and further expands our capabilities in the U.S.," said Olivier Champault, Business Group Director, IMCD Advanced Materials. "PromaPlast is a complementary addition to our global network of advanced materials experts and underscores our commitment to expanding opportunities for customers in Mexico and suppliers seeking a strong, reliable channel partner in the region."
In 2021, PromaPlast celebrated 25 years as a market leader since it was established in 1996. It is a privately owned company and boasts a highly diversified portfolio of resins and compounds to serve the packaging, footwear, consumer goods, home appliances, automotive and other industrial markets, plus additive masterbatches.
"This acquisition is a natural progression into the next phase of PromaPlast's 25-year history," said Ricardo Méndez, General Manager, PromaPlast. "Our market reputation and steady growth throughout the years have led to this moment to join a global market leader. PromaPlast's shareholders are pleased to find in IMCD a company with integrity that will value our talent and further develop the business and partnerships we built throughout the years. With IMCD's range of resources, capabilities and global network, our team's horizon has expanded to reach greater heights-we are looking forward to work towards an exciting future together."
Headquartered in Based in Lerma, Mexico, PromaPlast is ISO 9001-2015 and IMMEX certified and comprised of six sales offices, strategically located warehouses, and 109 employees, with 43 technical sales executives providing nationwide commercial support throughout Mexico, and parts of the U.S. The closing of the transaction is expected to take place in September 2022.
"Welcoming PromaPlast to IMCD aligns with our global strategy to be the local leader in all of our core markets," said Miguel Ruiseñor, Managing Director, IMCD México. "This latest acquisition maintains the steady growth momentum we have in our region."
Attached, is a pdf version of the full press release, the primary visual, and the photo caption.
Attachments
- IMCD Mexico acquires PromaPlast (https://ml-eu.globenewswire.com/Resource/Download/56201752-2e47-44d2-938d-3949441f9963)
- Press release_IMCD Mexico acquires PromaPlast (https://ml-eu.globenewswire.com/Resource/Download/799f6538-2d49-49c0-95fd-25fbf8d5fc5f)
- photo caption_IMCD Mexico acquires PromaPlast (https://ml-eu.globenewswire.com/Resource/Download/e9c09cb5-589d-4e83-897a-b07dcbb11283)
