The acquisition for an undisclosed sum, becomes effective March 26, 2010 and is expected to increase the earnings of Nuplex’s specialties business by more than 15% for the first 12 months. Employees in Australia and New Zealand who are directly related to sales and customer service will join Nuplex.
John Hirst, group managing director of Nuplex, said: “Med-Chem has a strong market position as a supplier to sophisticated segments of the Australian and New Zealand food, pharmaceutical and personal care manufacturing industries.
“The acquisition is consistent with our strategy to grow in the Australasian high compliance market sectors. The Med-Chem business will expand our agency base and continue our focus on functional materials where Nuplex’s in-house technical and compliance resources add value to distributed raw materials.”