Halcyon Agri completes €26m acquisition of RCMA’s polymer business
Singapore – Halcyon Agri Corp Ltd, has completed its €31.8 million (€26.6 million) acquisition of the polymer division of commodity trader RCMA Group Pte Ltd.
The acquisition has led to the establishment of the Halcyon Rubber and Plantations (HRP) business unit, the natural rubber processor and trader said 9 Jan.
The new unit is to be headed by Robert Meyer, executive director and chief executive officer of Halcyon Agri.
HRP, which includes the group’s existing industrial distribution and latex division, will supply industrial grade natural rubber, latex, and synthetic rubber to consumer product makers.
The Singapore-based RCMA Group offers commodities and supply chain management solutions. Its Polymer Division offers end-to-end services for the polymer industry, covering natural rubber, latex and synthetic rubber among others.
Halcyon Agri announced 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 includes the Wurfbain, Corrie MacColl, and Alan Grant distribution franchises. These, said Halcyon Agri, are “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.”
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.