05/31/2006
Brenntag takes over Schweizerhall Chemie AG
Brenntag, global leader in the distribution of chemicals, is acquiring all the shares in Schweizerhall Chemie AG, a subsidiary of Schweizerhall Holding AG.
The takeover of Schweizerhall Chemie AG, the leading chemicals distributor in Switzerland, will strengthen Brenntag's presence in one of the key markets and enable the company to further expand its logistics network in Europe. In 2005, Basel-based Schweizerhall Chemie AG recorded sales of CHF 219 million through the efforts of its 208 employees. The takeover transaction is subject to approval by the antitrust authorities and is expected to be completed in the second quarter of 2006.
Brenntag will initially operate Schweizerhall Chemie AG under the established " Schweizerhall " brand name and under the responsibility of the existing management team. The locations in Basel, Avenches and Lohn/Bätterkinden will also be retained. The Flawil facility was sold to a local company prior to the signing of the takeover agreement.
Luzi A. von Bidder, Chairman of the Board of Directors of Schweizerhall Holding AG: "Over the past four years, we have successfully transformed Schweizerhall Chemie AG into an efficient and profitable company. In view of the increasingly international scope of the chemical distribution business and our strategic objective of focusing on generic drugs and specialty pharmaceuticals, we decided to sell off our chemical activities. One of the conditions of the sale was the long-term security of our employees and the commitment to Switzerland as an operating location. We are convinced that, as the new owner, Brenntag will integrate Schweizerhall Chemie AG in its European business activities and will systematically expand and strengthen operations.
Integration in the activities of the world's leading chemicals distributor is the ideal solution for Schweizerhall Chemie AG."
Daniel Pithois, Member of the Executive Board of Brenntag Group and responsible for European Operations, adds: "We can draw on an international network that boasts a wide-ranging product portfolio and high-level market know-how. Schweizerhall Chemie AG is an excellent strategic addition to our company. This acquisition underpins our operations in the important Swiss market and will enable us to further expand our market lead in the full-line distribution of Industrial and Specialty Chemicals in Europe. We would like to extend a warm welcome to both employees and management, and we are looking forward to cooperating with them in the future."
Brenntag recorded sales of EUR 5.3 billion (US$ 6.6 billion). through the efforts of the company's 9,200 employees at around 300 locations around the globe. Brenntag is committed to provide value to its customers and suppliers through superior supply chain logistics, single sourcing and value-added-services, underlying the company’s strong position in world markets. Brenntag offers an unrivalled extensive and state-of-the-art distribution network for industrial and specialty chemicals to its suppliers both in Europe and the Americas.
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