H&R WASAG expands in Asia
The H&R WASAG Group is expanding its presence in Asia through the acquisition of a further location from the ExxonMobil oil group. The purchase comprises a plant to produce wax emulsions in Malaysia that are distributed around the entire Asian region. This allows H&R WASAG to strengthen its core chemical-pharmaceutical business in the important growth market of Asia.
The location generates revenue of around EUR8 million per year. Integration of the plant into the already existing activities enables synergies to be realized that shall lead to above-average profitability and to a further enhancement of H&R WASAG's earnings power in Asia.
"The acquisition represents a further step for us in the creation of a comprehensive presence in Asia, and we are working flat out to implement new growth projects in this region," commented Dr Hollstein, CEO of H&R WASAG, on the significance of the purchase. The focus in this respect will be mainly on production of label-free plasticizers for the tire industry.
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