Paris - Speciality chemical distributor Safic-Alcan SAS has acquired the remaining 50 percent stake of its Swedish subsidiary, Safic-Alcan Nordic, the company announced on 12 July.
The Paris-based distributor said Safic-Alcan Nordic’s acting President Mangus Lindeberg will maintain his role and continue to manage the business.
“We are excited with the acquisition of Safic-Alcan Nordic and optimistic regarding the company's future prospects,” Martial Lecat, CEO of Safinca, the holding company of Safic-Alcan Group said in a statement.
“With this acquisition, we made significant progress toward our strategy of growth in Northern Europe while achieving our vision of leading market positions delivering innovative products across Europe.”
Safic-Alcan Nordic, which operates in Sweden, Denmark, Norway, Finland and Baltic, was founded as Nordica Elastomer in 1997 and today serves more than 200 costumers and works with more than 30 principals and associates throughout the region. It has been an active distributor in a variety of markets, including rubber, plastics, adhesives, elastomers and thermoplastics polyurethane.
Headquartered in Kungsbacka, Sweden, the company operates five warehouses in the Nordic and Baltic regions and has reported €12 million in revenue for 2015.