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01-13-2010

Azelis: Acquisition of Finkochem

Azelis, a leading pan-European specialty chemicals distributor, completed the acquisition of Finkochem d.o.o., Belgrade, Serbia, a company specializing in the sales and distribution of a wide range of raw material for the food, chemical industries (detergents and homecare), plastics additives, metallurgy and rubber.

With this strategic acquisition in Serbia, Azelis greatly reinforces its position in the region as Finkochem is the second largest distributor in the country. Azelis will now have the capacity to accelerate growth within their Food & Health, Personal Care and Chemical Industries business lines not only in Serbia, but also in the adjacent countries.

In particular, the combination with its existing operations in Croatia, will allow Azelis far greater access to markets in the region and will improve service levels for suppliers and customers of the Group. The existing management team brings long established relationships with a broad base of customers and suppliers, as well as market know-how and experience to further develop the business.

Dubravka Mirkovic, General Manager and previous shareholder of Finkochem, will remain General Manager of the business and secure the successful integration into the Azelis Group and the future development of the company.

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