IMCD, a distributor and formulator of specialty chemicals and ingredients, has signed an agreement to acquire 100% of the shares of the specialty distribution company Needfill Co., Ltd., in South Korea.
Needfill serves the paint, coatings, inks, textiles, electronics, and polymer markets. According to IMCD, the acquisition enhances growth momentum in the coatings and construction market because of Needfill’s longstanding partnerships with suppliers.
“Having Needfill join us provides a strong addition to our coatings and construction business, enhancing our range of services and portfolio,” said Henri Kwon, managing director of IMCD Korea. “We are confident that Needfill’s dedicated team will support our business expansion, reinforcing our presence in the Korean market.”