Dutch Tanatex Chemical will become part of Transfar Chemicals Group
Zhejiang Transfar Co. Ltd., a leading Chinese company active in chemicals and logistics, which is part of Transfar Group, and TPC Holding B.V., the holding company of TANATEX Chemicals group, a global leader in specialist textile chemicals based in the Netherlands, announced on August 18, 2016 to have signed a definitive agreement under which Zhejiang Transfar Co. Ltd. will acquire 100 % of the shares of TANATEX Chemicals group. After the acquisition TANATEX Chemicals will continue to operate under the existing TANATEX brand as an independent entity within the Transfar Group
The acquisition of TANATEX Chemicals enables both groups to:
• Provide its global customer base with a broader and enhanced product portfolio
• Use TANATEX Chemicals’ global footprint to accelerate growth of the combination
• Benefit from Transfar Chemicals’ #1 position in the large Asian textiles auxiliaries market
• Leverage on the strong R&D focus and expertise present at both companies
• Optimise production between TANATEX Chemicals’ locations in Ede, the Netherlands and Rayong, Thailand, and Transfar Chemicals’ locations in China
• Become one of the major global leaders in specialised textile auxiliaries
CEO TANATEX Chemicals, Mr. Marco de Koning stated “We are excited to join forces with Transfar Chemicals. Together we will be in a better position to support our globally active client base and their growth. Transfar Chemical’s strong Asian market position offers a great opportunity to further develop TANATEX Chemical’s position in Asia, a key focus area, especially after opening our state-of-the-art facility in Rayong, Thailand in 2014. Moreover, Transfar will benefit from our market coverage outside of Asia Pacific. We are looking forward to working with our customers, employees and the Transfar team to take the combined company to the next level.”
“With TANATEX Chemicals becoming a part of the Transfar Chemicals, we will take a major step in the execution of our strategy to grow our textile chemicals business globally. Following this strategic move, we believe we will be able to realise synergies in many aspects and further enhance our combined global leading position by providing an even higher and faster service level to our customers,“ commented John Zhu Senior Vice President, strategy, Transfar Chemicals.
And Zhou Jia Hai, President, Transfar Chemicals added: “Both Transfar Chemicals and TANATEX Chemicals pay high attention to the relationships with our stakeholders. Together we will further enhance our strategic partnerships and develop a win-win platform in the global textile chemicals value chain. We are committed to work together with our stakeholders for a sustainable future.”
TANATEX Chemicals develops innovative textile processing solutions, ranging from pre-treatment to finishing. The state-of-the-art products are based on trends and demands in today’s (technical) textiles and carpet processing industry. Through a worldwide network of offices, agencies and distributors, TANATEX Chemicals supplies its global customers with quality wet processing products and provides a high level of technical service. For over 50 years, the company has proven to be a reliable partner in solving its customers’ challenges providing them with competitive advantages and fit-for-purpose chemical solutions whilst meeting international standards regarding quality, health, environment and safety. TANATEX continuously strives to exceed expectations in a world with growing environmental awareness.
Transfar Chemicals develops, produces and markets a broad portfolio of specialty chemicals serving various industries such as chemical fibres, textiles, leathers, coatings, paper, plastics, etc. In addition, the group has downstream detergents, industrial and architectural coatings business in its portfolio. Transfar Chemicals has been in the chemicals industry for 30 years. With strong innovation and manufacturing facilities in China, the group closely collaborates with suppliers and customers in China, other regions in Asia, and now outside of Asia as well. The group envisages to become a global top expert in performance chemicals as stated in its vision.
Established in 1986, Transfar Group is a private enterprise group with diversified business clusters in Chemicals, Logistics, Agriculture, Tech city and Investments. Transfar Group is one of China’s Top 500 Enterprises and its brand is one of China’s Top 500 most valuable brands. Transfar Group employees share the common values of responsibility, integrity, pragmatic and win-win. With happy employees, customer success, and “leading the industry” as mission, the group has determined to grow sustainable businesses, create vibrant and innovative enterprises and to be a development platform for employees and other stakeholders.
The transaction is subject to approval by the Chinese authorities. Closing of the transaction is expected during the third quarter of 2016.
TANATEX Chemicals was advised by Nielen Schuman (financial) and Baker & McKenzie (legal). Transfar was advised by PwC (financial, legal, tax & due diligence services).