Azelis sells thermoplastic polymers business

21-Jun-12

In line with its strategy to focus on specialty chemicals and ingredients, Azelis has announced the sale of the Thermoplastic Polymers Business Area within the Azelis Group to Gazechim Plastics who has acquired this business. This transfer means Gazechim Plastics is now managing in its entirety the Thermoplastic Polymers business and its employees, effective May 15th. Gazechim Group was deemed to be the ideal partner to sell the business to, as they were looking to complement their already strong presence in thermoplastic and thermoset products, refrigerant and liquefied gases, with a leading polymers offering. With an established polymers business in France, they have a stated strong vision and strategy to develop a fully pan-European platform in polymers and are ready to invest in this area for the future growth and development of products and people. As part of the agreement, in some countries Azelis will grant services to the business to help provide a smooth transition. Michel Dubois, Group Director Strategy and Marketing, states: “I would like to take this opportunity to thank our principals in Thermoplastic Polymers for their help and support over the last years and for their cooperation in the sale of the business. We are confident that Gazechim will remain a suitable distribution partner, committed to successfully growing a sustainable polymers business”. Jean Guittard, CEO of Gazechim Group: “This transaction allows us to extend our polymers offering beyond France, where we are one of the market leaders, to the rest of Europe. We are pleased to welcome our new colleagues to the Gazechim team and are committed to investment in the polymers business. Going forward we look to accelerate our product offering and service to our customers and partners.”