CPH Chemie + Papier Holding AG is expanding within the chemistry sector. Its Zeochem subsidiary has agreed to acquire 80% of the shares of Jiangsu ALSIO Technology Co. Ltd. from the Jiangsu Feixiang Group, as the company said in the press release received by Lesprom Network.
ALSIO, which was founded in 2008 and is domiciled in Lianyungang in China’s Jiangsu province, is one of Asia’s leading manufacturers of molecular sieves.
The parties have agreed not to divulge the purchase price involved. The deal is expected to be closed in the beginning of 2016. ALSIO will be integrated into the Zeochem Group, and will now trade under the Zeochem brand.
“ALSIO is an ideal complement to Zeochem’s current worldwide activities, both geographically and in terms of its product programme,” says Dr. Alois Waldburg-Zeil, Head of the CPH Group’s Chemistry Division. “And from its location in China, we will be able to further develop and refine our service of Asia’s growing markets.”
The ALSIO purchase follows last year’s announcement by the CPH Group’s Packaging Division that it would be building a coatings plant in China. The completion of the new facility is progressing and will start producing blister pack films for the Asian pharmaceuticals markets in the course of 2016.
Zeochem is a leading manufacturer of molecular sieves for industrial applications, and of chromatography gels for the pharmaceuticals industry.
CPH is an internationally active and diversified industrial group. The CPH Group develops, manufactures and distributes chemical products, wood-based paper and pharmaceutical packaging films.