Azelis acquires MKVN Chemicals, Viet Chemicals in Vietnam

Azelis acquires MKVN Chemicals, Viet Chemicals in Vietnam

8:56 AM, 7th January 2021
MKVN Chemicals
Azelis acquires MKVN Chemicals Co Ltd and Viet Chemicals Trading and Service Co Ltd through their parent company Bellekimia Singapore Pte Ltd. Shown here is the warehousing facility of MKVN Chemicals. (File Photo)

SINGAPORE: Azelis said it has acquired a majority shareholding of MKVN Chemicals Co Ltd (MKVN Chemicals) and Viet Chemicals Trading and Service Co Ltd (Viet Chemicals) through their parent company Bellekimia Singapore Pte Ltd (Bellekimia). Both companies are active in personal care, industrial chemicals, agro and food segments as well as supply chain solutions. Founded in 2000 and with offices in Hanoi and Ho Chi Minh, MKVN Chemicals and Viet Chemicals have a strong reputation in Vietnam, serving first-class international principals and 700 customers.

The strong market presence and know-how of the local MKVN Chemicals and Viet Chemicals team will increase Azelis' presence in Vietnam allowing significant portfolio expansion through lateral integration. Being the 15th most populated country in the world, Vietnam's young workforce, increasing purchasing power, and growing access to premium products are expected to benefit MKVN Chemicals' and Viet Chemicals' main business activity in personal care.
Kamal Hezry Kassim, managing director of MKVN Chemicals and Viet Chemicals, will continue to manage the business and will report to Azelis, Asia Pacific, CEO & president, Laurent Nataf.

"Growth in Asia Pacific has been one of the strategic priorities for Azelis. By strengthening our presence in Vietnam, we will gain better coverage in the entire region which is key for us to attract new mandates with our existing principals. MKVN Chemicals and Viet Chemicals currently operate best-in-class personal care laboratories in Vietnam. These laboratories will provide important added value to Azelis' existing technical expertise and will bring benefits to the entire region,” said Nataf.

"Firstly, becoming part of such a highly regarded, international player will not only provide continuity and security for our company but also additional expertise, infrastructure and growth opportunities. Secondly, we will benefit greatly from Azelis' sustainability reputation and EcoVadis Gold rating, which are both important criteria for customers and corporate principals alike in South East Asia. Thirdly, there is an excellent fit between our strong technical focus on one side and Azelis' ability to offer innovative solutions to the market on the other,” said Kassim.

The acquisition of MKVN Chemicals and Viet Chemicals illustrates the support provided by EQT since the initial acquisition of Azelis. EQT is confident that the expanded range of services and global reach provided by this acquisition will continue to bring benefits to customers and principals of the combined group.

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