Jun 21 2004
European distribution group, Azelis, has acquired 100% of the shares of the UK specialist engineering plastics distributor, Pan Polymers.
This strategic acquisition fulfils two goals. It complements the existing strong presence in plastics additives held by the group’s UK company, Chance & Hunt and, with the addition of engineered polymers, will enable them to make a comprehensive product offering to the plastics sector. It also supports the Azelis group’s strong presence in Italy, France and Eastern Europe in what is considered a strategically core business. Furthermore, this latest acquisition will hasten achievement of the groups’ goal to offer tailored solutions in engineering plastics throughout Europe.
Pan Polymers has been well established as a supplier of polymers for the past twenty-five years. The company combines extensive technical knowledge in polymers, compounding and colouring with the expertise and back up resources provided by their suppliers who are some of the worlds leading polymer producers including Dow Corning, LNP and BASF.
Chance & Hunt’s managing director Peter Fields said; “Pan Polymers complements our existing UK polymers portfolio and, through shared suppliers with our Azelis partner companies in Italy and France, our ability to provide a pan European service to polymer producers is significantly enhanced.
Of particular interest is the opportunity to further build on the very close ties Pan Polymers has established with major automotive end users and their tier one/two suppliers.”
Pan Polymers will become an operating business unit of Chance & Hunt and their current managing director, Ian Smith, and Pan’s strategic support team, will transfer. Ian Smith added: “This deal offers great benefits to both parties. For Pan it provides the opportunity to significantly grow in the UK and for Azelis we are the necessary piece in the jigsaw enabling them to have a strong pan European presence in engineered polymers.”
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