Azelis announces the sale of its Composites business

Azelis announces the sale of its Composites business
Azelis announces the sale of its Composites business

As part of the company’s natural progression and clear focus on value added growth within specialities, a strategic review was undertaken by the Azelis board and the Composites market was judged to be sub-critical to the company’s plans for future development. Within the markets it serves, industrial chemicals, coatings, rubber & plastic and Life Sciences have been identified as primary value added growth areas within Europe. Further expansion within Asia Pacific is also another key pillar using a speciality chemicals business model.

Michel Dubois, Group Strategy Officer adds, “Azelis would like to take this opportunity to thank our Composites suppliers for their support over the years and for their co-operation in the sale of the business. We are convinced that VELOX will remain a suitable distribution partner successfully growing a sustainable composites business”.

“We understand the importance of building and maintaining personal relationships with our customers and partners and are pleased to welcome our new colleagues to VELOX. We are committed to grow the Composites business together with our principals and develop our product offering for the composites market” states Max Schlenzig, Founder and Managing Director at VELOX.

About Azelis

Azelis is the leading Pan-European specialty chemicals distributor providing a diverse range of innovative products and services. We serve 50,000 customers with 40,000 products from over 3,000 chemical manufacturers in the coatings, chemicals, composites, rubber and plastic additives, food & health, animal nutrition, pharma and personal care industries.

Through sourcing and distribution channels in every major market around the world, Azelis with its corporate service centre in Antwerp, Belgium, offers chemical producers market penetration, in-depth local knowledge, value-added services and tailored multi-territory solutions. Azelis, backed by private equity investor 3i, has a turnover of €1,200 million and employs 1,300 knowledgeable people located in 37 facilities in 32 countries across Europe, Australia, Canada, India and China.

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