26.01.2024 | Headquarters, Life Sciences & Health | Reading-time: 3 min
CPH Chemie gains presence in Indian market through acquisition
Perlen LU/Rüti ZH/Vadodara - Zeochem, the chemistry subsidiary of CPH Chemie + Papier Holding AG, has acquired Sorbead India and Swambe Chemicals in Vadodara, India. With the acquisition, the CPH Group is expanding its portfolio and entering the Indian chemicals and pharmaceuticals market with its own local presence.
The CPH Group based in Perlen in the canton of Lucerne has acquired Sorbead India and Swambe Chemicals via its chemistry subsidiary, Zeochem, from Rüti in the canton of Zurich. The transaction is expected to close in the second quarter of 2024, according to a statement. The purchase price has not been disclosed.
Sorbead India distributes molecular sieves and packaging materials, while Swambe Chemicals produces chromatography silica gels for use in the packaging and pharmaceutical industries. Around 65 employees at a production site in the Indian state of Gujarat generate EBITDA in the mid single-digit million dollar range.
According to the statement, this acquisition will give the CPH Group its own presence in the Indian chemicals and pharmaceuticals market and complement its range of chemical products. «At CPH Group we are seeking to both expand our global market position in regions with high growth potential and further reduce our dependency on the European paper market,» says Group CEO Dr. Peter Schildknecht. «The acquisition of Sorbead India and Swambe Chemicals is a further consistent step in the implementation of our corporate strategy.»