IMCD China expands into lubricants market with RBD acquisition
IMCD China, a leading distributor of specialty chemicals and ingredients, has announced its foray into the lubricants market with the acquisition of Guangzhou RBD Chemical. This strategic move marks IMCD China's entry into the last remaining sector of the Chinese industrial market, completing its presence across all major sectors.
Established in 2004, Guangzhou RBD Chemical specialises in lubricant additives and represents leading global suppliers. Based in Guangzhou, China, the company has achieved a revenue of approximately CNY75 million (USD10.6 million) in 2022 and employs 12 people.
Joe Cao, commercial director of IMCD China, reflected on the acquisition, stating, "The lubricants industry stands as the last missing piece in our business diversification within the Chinese industrial market. This acquisition allows us to establish our business coverage and footprint in the lubricants and energy market, continuing to provide our partners and customers with the high-quality services and solutions they expect from us."
Xiang, president of RBD, commented on the integration of RBD into IMCD's global business model. "RBD's 20 years of comprehensive resources in the lubricants market in South China will significantly enhance IMCD's commercial and operational strength in China's lubricant industry. This acquisition symbolises a new journey and a catalyst for the joint development of both parties, supporting IMCD in achieving more in the Chinese market," said Xiang.
The transaction's closing is subject to customary closing conditions and is expected to take place in the first quarter of 2024.