Brenntag, the global market leader in chemical distribution, has signed an agreement to acquire the distribution business of EPChem Group, Singapore.
EPChem is a distribution company for special performance chemicals, dedicated to waxes and wax related products for diverse industries and applications mostly in the Asia Pacific region. The acquisition will include the Group’s distribution businesses in Indonesia and China.
Henri Nejade, Member of the Management Board of Brenntag Group and CEO Brenntag Asia Pacific: “EPChem’s comprehensive product lines perfectly complement Brenntag’s product portfolio in Asia Pacific. In addition, the company has an outstanding track record and long-standing partnership with major global wax producers. With the acquisition, we are strengthening and expanding our specialty chemicals footprint in the region which is one of our strategic growth objectives.”
Anthony Gerace, Managing Director Mergers & Acquisitions at Brenntag Group: “Waxes have a broad range of applications in several industries such as personal care, coatings, adhesives and roofing and paving. These are attractive industries with high growth potential, especially for innovative products.”
The business generated total sales of approximately 54.6 million USD in the 12 months until May 2016. Closing of the transaction is expected to occur in the course of the next months, subject to contractually agreed closing conditions.
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?