Sector News

Brenntag buys majority stake in Dubai chemical distributor Trychem

August 12, 2015
Chemical Value Chain
Brenntag, the world’s largest chemicals distributor, has bought a 51 per cent stake in Dubai-based distributor Trychem from sole shareholder Tristar Transport for an undisclosed sum.
 
Trychem is a regional distributor of solvents for paint, ink and coating industries in the UAE, Saudi Arabia, Bahrain, Oman, Egypt and East Africa.
 
Tristar, a chemical logistics company based in Jebel Ali, is retaining the remaining 49 per cent stake in Trychem, according to an emailed statement from Tristar.
 
Karsten Beckmann, Brenntag Europe, Middle East and Africa Chief Executive, stated the acquisition is an “excellent platform” for its regional expansion plans.
 
“We see sizeable growth potential in the partnership,” he stated.
 
Carl Blomme, Brenntag Regional President for Europe West, Middle East and Africa, stated there are plans to increase the existing commodity business and to develop speciality chemicals for specific markets.
 
Last week, Germany-based Brenntag reported a 31.2 per cent increase in second quarter net-profit. The company’s quarterly earnings attributable to shareholders were 107.2 million euros over the three months to June 30.
 
Tristar acquired Trychem from Emirates National Oil Company (Enoc) in 2013. The company was previously branded as Enoc Chemicals.
 
Source: GulfNews

comments closed

Related News

October 2, 2022

Trinseo announces potential closure of Boehlen, Germany Styrene Plant

Chemical Value Chain

Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.

October 2, 2022

Celeste Mastin appointed H.B. Fuller President and CEO, succeeding Jim Owens upon his retirement

Chemical Value Chain

H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.

October 2, 2022

LyondellBasell realigns executive team, forms circular and low-carbon solutions business

Chemical Value Chain

New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.