HANGZHOU, China/EDE, The Netherlands — August 18, 2016 — Zhejiang Transfar Co. Ltd. — a leading China-based company active in chemicals and logistics, and part of Transfar Group — and TPC Holding BV, the holding company of the Netherlands-based TANATEX Chemicals group, today announce they have signed a definitive agreement under which Zhejiang Transfar Co. Ltd. will acquire 100-percent of the shares of Tanatex Chemicals group. After the acquisition Tanatex Chemicals will continue to operate under the existing Tanatex brand as an independent entity within the Transfar Group.
The acquisition of Tanatex Chemicals enables both groups to:
- Provide its global customer base with a broader and enhanced product portfolio;
- use Tanatex Chemicals’ global footprint to accelerate growth of the combination;
- benefit from Transfar Chemicals’ #1 position in the large Asian textiles auxiliaries market;
- leverage on the strong R&D focus and expertise present at both companies;
- optimize production between Tanatex Chemicals’ locations in Ede, the Netherlands and Rayong, Thailand, and Transfar Chemicals’ locations in China; and
- become one of the major global leaders in specialised textile auxiliaries.
“We are excited to join forces with Transfar Chemicals,” said Marco de Koning, CEO Tanatex Chemicals. “Together we will be in a better position to support our globally active client base and their growth. Transfar Chemical’s strong Asian market position offers a great opportunity to further develop Tanatex Chemical’s position in Asia, a key focus area, especially after opening our state-of-the-art facility in Rayong, Thailand in 2014. Moreover, Transfar will benefit from our market coverage outside of Asia Pacific. We are looking forward to working with our customers,employees and the Transfar team to take the combined company to the next level.”
“With Tanatex Chemicals becoming a part of the Transfar Chemicals, we will take a major step in the execution of our strategy to grow our textile chemicals business globally,” said John Zhu, senior vice president, strategy, Transfar Chemicals. “Following this strategic move, we believe we will be able to realize synergies in many aspects and further enhance our combined global leading position by providing an even higher and faster service level to our customers.“
“Both Transfar Chemicals and Tanatex Chemicals pay high attention to the relationships with our stakeholders,” Zhou Jia Hai, president, Transfar Chemicals. “Together we will further enhance our strategic partnerships and develop a win-win platform in the global textile chemicals value chain. We are committed to work together with our stakeholders for a sustainable future.”
Posted August 22, 2016
Source: Tanatex Chemicals