Brenntag acquires Philchem to bolster US chemical supply chain solutions
Global chemical distributor Brenntag has acquired Philchem, officials said on Tuesday.
Based in Houston, Philchem is specialized in managing individual supply and demand imbalances in selected product groups utilizing long-term relationships with key suppliers and an excellent logistics expertise.
We expect global supply chain flows to shift as a result of the shale gas developments in North America," said Markus Klähn, CEO of Brenntag North America. "Brenntags customers and suppliers will increasingly benefit from Philchems capability to manage individual supply and demand situations.
"With the help of Philchem, Brenntag will be even better equipped to predictably move products and to ensure reliable supply," he added. "The business model of Philchem complements the strategic profile of the Brenntag global marketing team and its expertise in products with global flow."
For the financial-year 2013, Philchem generated total sales of approximately $162 million.
I am looking forward to partnering with Brenntag to develop strategic business bringing additional benefits to customers and suppliers," said Philip Exnicious, president of Philchem.
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