Pharmabiz.com
IMCD Group BV has acquired Singapore-based Paceco Industrial Supplies Pte. Ltd., a reputable distributor for engineering and speciality plastics. This latest acquisition demonstrates the importance of China and South East Asia in its growth and development strategy.
The company is active in Singapore, China and Malaysia and currently employs 28 staff who will all transfer to IMCD. George Chong, one of the company’s two founders, will remain the managing director.
Albert Stevens, vice president Asia for IMCD Group, comments: “We are delighted to have Paceco on-board. They have built up their business through focus on specialities thus creating a strong network and gaining considerable industry experience. This new deal will greatly complement our plastics business in China and will provide a platform for further expansion in South East Asia.”