Essen, March 22, 2023
Brenntag acquires Aik Moh Group, significantly expanding its industrial chemicals and value-added service footprint in South-East Asia
Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, today announced the acquisition of Aik Moh Group. The group offers a wide range of industrial chemicals with excellence in last-mile delivery, mixing and blending and offers value-added services such as repacking, warehousing, and logistics support with a focus on South-East Asia.
“With the addition of Aik Moh Group to Brenntag Essentials, we execute our ‘Strategy to Win’ in the APAC region, strengthening our local and regional distribution network in Asia Pacific, enhancing our last mile delivery capabilities while at the same time expanding our mixing and blending services. We will foster our leading position as a value-added service provider and reliable distribution partner to our existing and new customers”, said Steven Terwindt, Member of the Management Board of Brenntag Group and COO Brenntag Essentials.
With this acquisition, Brenntag Essentials expands its business into key focus markets in Asia Pacific, including Singapore, Malaysia, Indonesia, and the Philippines. This is an additional step in Brenntag’s ongoing transformation process, driving its stringent execution of the Brenntag Essentials strategy to strengthen local capabilities and market coverage in high growth markets like Asia-Pacific.
Huan Yong Chan, Regional President Brenntag Essentials Asia Pacific, added “I want to welcome our new colleagues from the Aik Moh Group to the Brenntag family. The company’s track record, supply chain, infrastructure and customer base speak for themselves, and I am very much looking forward to what we can achieve as a joint Brenntag Essentials team and network in the region.”
Kah Moh Tan, Chairman of Aik Moh Group, adds: “We have grown from a company of five employees to a chemical distribution specialist with facilities and a sales organisation in several countries. It is a natural next step for us to join the global market leader in chemical distribution, to which we can add our capabilities and strengths, unlock synergies, and serve our joint customer base even better.”
Founded in 1980, Aik Moh Group is headquartered in Singapore and operates nine blending and warehousing facilities in four countries. The company distributes mainly solvents, glycols, and blends to customers throughout South-East Asia. These products are used in various industries such as Coatings, Water Treatment, Industrial Cleaning, Construction, Oil & Gas, Inks and Polymers. Aik Moh already generates a significant part of its sales with products from sustainable sources. The installation of solar panels at several sites is also planned, showcasing that sustainability plays a key role in the business strategy which aligns with Brenntag’s sustainability goals.
“Brenntag helps us utilize our strong infrastructure and market reach by adding the global footprint and scale to our operations to unlock additional efficiencies”, adds Jimmy Soh, Managing Director of Aik Moh Group.
The acquired business generated sales of approx. 76.6 million EUR in the financial year 2022 (ending March 31). Closing of the transaction is subject to certain contractual conditions and regulatory approvals
Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17,500 employees worldwide and operates a network of about 600 sites in 72 countries. In 2022, Brenntag generated sales of around 19.4 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a full-line portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. In the field of sustainability, Brenntag pursues specific goals and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, in the DAX since September 2021. In addition, the Brenntag SE shares are listed in the DAX 50 ESG and DAX ESG Target. For more information, visit www.brenntag.com.
|Press contact:||Investor Relations|
|Robert Reitze||Thomas Altmann|
|Brenntag SE||Brenntag SE|
|Global Communications||Investor Relations|
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