Singapore –Halcyon Agri Corp Ltd, the natural rubber processing and merchandising company, has entered into a €33.8 million (€27.8 million) agreement with commodity trader RCMA Group Pte Ltd to acquire its Polymer Division.
The Singapore-based RCMA Group offers commodities and supply chain management solutions and its Polymer Division offers end-to-end services for the polymer industry, covering natural rubber, latex and synthetic rubber among others.
Halcyon Agri said on 21 Nov that the acquisition would improve its market position, providing it with well-known trading names in the industry as well as "an immediate foothold" in the synthetic rubber market.
The takeover will include the Wurfbain, Corrie MacColl, and Alan Grant distribution franchises, which Halcyon Agri said were “some of the world’s oldest and most established rubber trading names in their respective home markets.”
The combination of the two businesses, claimed Halcyon Agri, will also create “one of the world’s largest distribution hubs for latex and speciality tire rubber.”
The assets and entities to be acquired will be injected into two of Halcyon Agri’s sales and distribution arms: Centrotrade Holdings Pte Ltd (CTH) and New Continent Enterprises (Private) Ltd (NCE).
Halcyon is the world’s second largest natural rubber supplier with 748 kilotonnes/year capacity - following Thailand’s Sri Trang Agro-Industry.
Operating mainly in Indonesia and Malaysia, Halcyon’s distribution network covers south east Asia, China, South Africa, the US and Europe.