Ad hoc announcements
Zeochem acquires India-based Sorbead India and Swambe Chemicals
Zeochem, the chemistry division of the CPH Group, is to acquire Sorbead India and Swambe Chemicals. The purchase of the India-based distributor of molecular sieves and packaging materials and manufacturer of chromatography gels marks a further step in the CPH Group’s expansion strategy.
Perlen, 23 January 2024 – Zeochem, the chemistry subsidiary of CPH Chemie + Papier Holding AG, is to acquire Sorbead India and Swambe Chemicals based in Vadodara, India. The company is a distributor of molecular sieves and packaging materials and a manufacturer of chromatography gels for use in the packaging and pharmaceuticals sectors. Sorbead India and Swambe Chemicals generates an annual EBITDA in the lower mid-single-digit millions in USD, has a workforce of some 65 personnel and maintains its own production facility in the Indian State of Gujarat. The parties have agreed not to divulge the purchase price involved. The transaction is expected to close in the second quarter of 2024.
In acquiring Sorbead India and Swambe Chemicals, CPH Chemie + Papier Holding AG is gaining its own presence in the Indian chemicals and pharmaceuticals markets and expanding the product range within its chemistry division. “At CPH Group we are seeking to both expand our global market position in regions with high growth potential and further reduce our dependency on the European paper market. The acquisition of Sorbead India and Swambe Chemicals is a further consistent step in the implementation of our corporate strategy,” says Group CEO Dr. Peter Schildknecht.
“With its geographical location and its product portfolio, Sorbead India and Swambe Chemicals excellently complements Zeochem’s present global activities. With our own India-based company, we aim to play our full part in the subcontinent’s strong business growth,” adds Dr. Alois Waldburg-Zeil, Head of Chemistry at CPH Chemie + Papier Holding AG.
“We are delighted that, in Zeochem, our company has found such a sound and reliable partner to embark on a new business future. With its over 200-year history, Zeochem is a firm guarantee of our company’s long-term further development. We are convinced that the continuation of our business in Zeochem’s hands will generate clear added value for both our business partners and our employees,” says Rajesh Galgalikar from Sorbead India and Swambe Chemicals.