Zhejiang Transfar, a leading Chinese company active in chemicals and logistics to acquire 100% of the shares of Tanatex Chemicals, a leading producer of innovative textile processing solution. After the acquisition, Tanatex Chemicals will continue to operate under the existing Tanatex brand as an independent entity within the Transfar Group, the parent company of Zhejiang Transfar.
The acquisition of Tanatex Chemicals is expected to enable both groups to provide its global customer base with a broader and enhanced product portfolio and leverage on the strong R&D focus and expertise present at both companies.
The synergy will also benefit from Transfar Chemicalsâ€™ leading position in the large Asian textiles auxiliaries market and will help both groups to optimise production between Tanatex Chemicalsâ€™ locations in Ede, the Netherlands, and Rayong, Thailand, and Transfar Chemicalsâ€™ locations in China.
Mr Marco de Koning, CEO, Tanatex Chemicals said that they are excited to join forces with Transfar Chemicals. Together they will be in a better position to support their globally active client base and their growth.
Transfar Chemicalâ€™s strong Asian market position offers a great opportunity to further develop Tanatex Chemicalâ€™s position in Asia, a key focus area, especially after opening our state-of-the-art facility in Rayong, Thailand in 2014.
Moreover, Transfar will benefit from our market coverage outside of Asia Pacific. We are looking forward to working with their customers, employees and the Transfar team to take the combined company to the next level.
With Tanatex Chemicals becoming a part of the Transfar Chemicals, they will take a major step in the execution of their strategy to grow textile chemicals business globally. Following this strategic move, they believe it will be able to realize synergies in many aspects and further enhance their combined global leading position by providing an even higher and faster service level to their customers, said Mr. John Zhu, Senior Vice President, strategy, Transfar Chemicals.
President of Transfar Chemicals, Mr Zhou Jia Hai agreed that both Transfar Chemicals and Tanatex Chemicals together they will further enhance their strategic partnerships and develop a win-win platform in the global textile chemicals value chain. They are committed to work together with their stakeholders for a sustainable future.
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