Brenntag acquires majority stake in Dubai-based distributor Trychem

Brenntag acquires majority stake in Dubai-based distributor Trychem

5:30 AM, 12th August 2015
Brenntag acquires majority stake in Dubai-based distributor Trychem
Karsten Beckmann, management board member, Brenntag Group and CEO Brenntag Europe, Middle East and Africa (EMEA). (File photo)

MUELHEIM AN DER RUHR, GERMANY: Brenntag AG said it has entered into a joint cooperation with 51 percent ownership in chemical distributor Trychem FZC, Dubai, UAE. Trychem is active in the distribution of solvents serving the paint, ink and coatings industries mainly in the UAE, Saudi Arabia, Bahrain, Oman, Egypt and East Africa. In addition, the company offers mixing, blending, packaging and labelling capacities. In a first step, Brenntag will hold 51 percent and Tri Star Transport LLC/JRA Holding 49 percent.

“We are delighted to work together with a well-positioned chemical distributor to strengthen Brenntag’s market position in the Middle East region. This is an excellent platform for our existing and planned business for the region,” said Karsten Beckmann, management board member, Brenntag Group and CEO Brenntag Europe, Middle East and Africa (EMEA).

Middle East is a fast growing region with ongoing investments in chemical production. The chemical distribution market is still fragmented and consolidation offers significant potential for global players like Brenntag.

“Our plans for the joint cooperation are to increase the existing commodity business and especially develop specialty chemicals with initial focus on selected markets and industrial applications, lubricants and coatings,” said Carl Blomme, regional president, Brenntag Europe West & MEA.

“The success combination of Brenntag and Trychem provides effective skills and operational excellence to our customers and suppliers. The joint company will be an attractive and reliable partner with high safety and ethical standards in this fast developing region,” said Eugene Mayne, group CEO, Tri Star Transport LLC and chairman, Trychem.

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