In 2018/2019, Monachem Additives, generated revenue of INR 800 million with 22 employees (year ending March 31, 2019). Both entities will be fully integrated into IMCD’s existing organisation by 2020.
Olivier Champault, Director of IMCD Advanced Materials comments, “This acquisition fits perfectly in our continuous efforts to build and establish IMCD’s position in the Advanced Materials segment in India, a very promising market to support our expansion and ambition in Asia. Both companies, have a strong track record in offering specialty products and technical expertise which is very much aligned with IMCD practices.’’
The acquisition is paid from available cash and existing facilities.
PRESS RELEASE IMCD India acquires Monachem Additives.pdf
Photo: From left to right: Mr Shamik Shah (CEO and Director), Mr Dilip Shah (Ex-chairman and Managing Director) and Amit Hirani, Managing Director, IMCD India Pvt. Ltd.