Azelis sells thermoplastics business to Gazechim

Chemicals distributor Azelis is selling its thermoplastics business to Gazechim Plastics as part of plans to focus on specialty chemicals and ingredients.

Azelis has described Gazechim as the “ideal partner” to sell the business to, as it has a strong presence in thermoplastic and thermoset products. Group Gazechim is based in France and has annual turnover of €340m.

The company is not divulging the sales price but a spokesperson said the thermoplastic polymers business was selected for disinvestment because that market is becoming increasingly non-specialty and largely commodity oriented.

However, the company is still retaining a considerable hold in the overall plastics market.

“Azelis still has the Materials Pigments and Additives business which offers speciality additives and organic pigments to support the polyvinyl chloride, and polyurethane businesses, as well as other plastic polymer producers, compounders and master batches,” the spokesperson told European Plastics News. “The project only concerned Azelis activities in Europe and the company will continue with its thermoplastic polymer business in its Indian and Chinese operations.”

In a statement, Gazechim says the deal will allow it to spread its plastics capabilities out of France and across Europe. 

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