Dutch chemical company IMCD acquires Vietnam, Singapore firms
IMCD N.V., a Dutch provider of specialty chemicals and food ingredients, has signed a deal to buy out Brylchem Group.
Brylchem Group includes Singapore-based firms Brylchem Pte Ltd and Chemipac Pte Ltd., and CMS Marketing Trading Co., Ltd in Vietnam.
The group was founded in Singapore in 1992, offering a wide range of products in the coatings, construction, advanced materials, agrochemical, home care and industrial cleaning, feed and veterinary, and lubricants industries for the Singapore and Vietnam markets.
The closing of the transaction is expected to take place in the fourth quarter of 2023, an IMCD release said on Friday without disclosing the acquisition price.
Representatives of IMCD and Brylchem Group pose for a photo in Singapore to illustrate IMCD’s acquisition of Brylchem on June 16, 2023. Photo courtesy of IMCD.
"Brylchem Group provides IMCD with an excellent gain in foothold, given their strong presence in the highly dynamic and vibrant Singaporean and Vietnamese markets," said Daan Roebbers, regional director of expansion, strategy, and digitalization at IMCD Asia-Pacific.
He noted, "This is a momentous milestone with it being the first acquisition for Vietnam and a vital opportunity for our business expansion into new markets for both Vietnam and Singapore."
Brylchem generated revenue of approximately 85 million Singapore dollars ($63.6 million) in 2022, according to the group. It has around 50 employees in Singapore and Vietnam. Brylchem’s Vietnam office is located in Ho Chi Minh City, the country’s southern economic hub.
- Related News
- Read More
Vietnam's economy: positive changes but concerns persist
Vietnam's economic picture is looking more positive with numerous bright spots, but many difficulties remain, especially market confidence, concerns about private investment, and social consumption, writes Dr. Vo Tri Thanh, director of the Institute for Brand and Competitiveness Strategy.
Opinion - Wed, May 1, 2024 | 6:32 pm GMT+7
Major industrial park developer Kinh Bac suffers setback with $3 mln Q1 loss
Vietnamese industrial park developer Kinh Bac Urban Development Corporation recorded Q1/2024 losses of VND76.7 billion ($3 million), a setback considering its annual profit target of VND4,000 billion ($157.8 million).
Industrial real estate - Wed, May 1, 2024 | 3:51 pm GMT+7
Founder of Vietnam’s ACB bank passes away
Asia Commercial Bank founder Tran Mong Hung, father of the current chairman Tran Hung Huy, passed away Thursday. He was 72.
Banking - Wed, May 1, 2024 | 3:37 pm GMT+7
Singapore Management University opens office in HCMC
Singapore Management University (SMU) has chosen to open a representative office in Vietnam after Indonesia and Thailand as part of its vision to 2025.
Companies - Wed, May 1, 2024 | 3:18 pm GMT+7
Exhibition displays 300 artefacts of Dien Bien Phu Campaign
The thematic exhibition named "Dien Bien Phu Victory - An Eternal Epic" showcases some documentaries and artefacts for the first time to the public about Dien Bien Phu Campaign.
Travel - Wed, May 1, 2024 | 3:02 pm GMT+7
Six dead as boiler explodes at southern Vietnam wood factory
Six persons including a Chinese national died and five others were injured after a boiler exploded Wednesday morning at a wooden products factory in Vinh Cuu district, Dong Nai province.
Society - Wed, May 1, 2024 | 2:55 pm GMT+7
Trungnam Group eyes green energy development in Ninh Thuan province
Private Vietnamese conglomerate Trungnam Group plans to develop a green energy complex with an expected green hydrogen capacity of 824,400 tons per year in the south-central province of Ninh Thuan.
Energy - Wed, May 1, 2024 | 11:37 am GMT+7
S Korea's Jeil E&C to invest $35 mln in southern Vietnam high-tech logistics project
Jeil E&C, a major South Korean construction-real estate business, will invest $35.4 million in a high-tech logistics project in Dong Nai province - an industrial hub in southern Vietnam.
Industries - Wed, May 1, 2024 | 9:34 am GMT+7
Brewer giant Habeco posts biggest quarterly loss in 4 years
Habeco, among the top four brewers in Vietnam by market share, suffered a net loss of VND21 billion ($828,570) in the first quarter of 2024, up nearly sixfold from the same period last year.
Companies - Wed, May 1, 2024 | 7:00 am GMT+7
Retailer Mobile World Q1 profit rises 43 times after reshuffle
Mobile World Investment Corporation (MWG) reported an after-tax profit of nearly VND903 billion ($35.63 million) in the first quarter of 2024, a 43-fold increase year-on-year, according to the company’s financial statements.
Companies - Tue, April 30, 2024 | 9:09 pm GMT+7
Vietnam welcomes 6.2 mln foreign arrivals in Jan-Apr, 3.9% above pre-pandemic level
Vietnam welcomed over 6.2 million foreign tourists in the first four months of this year, up 68.3% year-on-year, the General Statistics Office reported.
Travel - Tue, April 30, 2024 | 3:32 pm GMT+7
April 30 Victory – Glorious milestone in national history
The Liberation of the South Day (April 30) is an occasion of great significance for all Vietnamese people.
Politics - Tue, April 30, 2024 | 3:10 pm GMT+7
$32 mln ecotourism project inaugurated in central Vietnam
Hang Gop Ecology Tourism JSC, a subsidiary of FVG Group, inaugurated its VND800 million ($31.56 million) Dong Giang Heaven Gate ecotourism project in Vietnam’s central province of Quang Nam on Sunday.
Travel - Tue, April 30, 2024 | 2:00 pm GMT+7
Dien Bien Phu Campaign's historic 3D panorama painting to be exhibited in Hanoi
The impressive 3D panorama painting showcasing the Dien Bien Phu Campaign, which captivates visitors at the Dien Bien Phu Victory Museum in the northern province of Dien Bien, will now be exhibited in Hanoi using 3D mapping technology.
Travel - Tue, April 30, 2024 | 12:59 pm GMT+7
HCMC ready for spectacular fireworks display to celebrate national holidays
Ho Chi Minh City is getting ready for a spectacular fireworks display at five different locations to celebrate the Reunification Day on the night of April 30.
Travel - Tue, April 30, 2024 | 12:56 pm GMT+7
Vietnam’s FDI sector posts $16.64 bln trade surplus in Jan-Apr
Foreign-invested enterprises in Vietnam recorded a trade surplus of $16.64 billion in the first four months of 2024, with crude oil activities factored into account, according to the General Statistics Office.
Economy - Tue, April 30, 2024 | 11:50 am GMT+7
