Italy- Eigenmann & Veronelli SpA, a leading distributor of specialty chemicals and food ingredients, today announced that it has acquired 100% of IMEA Technologies FZC, a regional distributor of specialty chemicals focused on the industrial market and headquartered in the UAE.
The acquisition achieves an excellent fit with E&V’s existing operations and strategic business expansion in the Middle East and Africa region, as well as the Far East and India markets, strengthening its international presence to solidify its attractive portfolio of operations and implement its growth strategy.
Established in 2011 in Sharjah (UAE) IMEA Technologies offers a wide range of products, mainly industrial, such as Emulsifying Polymers for Industrial, Coatings, Plastics, Inks, Water Curing, Insulation & Adhesives, Oil & Gas, Construction as well as Cosmetic uses And for cleaning.
Headquartered in Sharjah with offices and warehouses in the UAE, the company ensures full coverage of the Middle East and Africa as well as the Far East and Indian markets. In 2022, IMEA Technologies achieved a profit of approximately 68.5 million AED (approximately 17.7 million Euros).
IMEA Technologies’ existing management staff and staff will lead the company within the E&V group while retaining its well-established name.
Gabriele Bonomi, Group Chief Executive Officer, E&V, commented:
“In line with our strategic vision to become an international solutions provider, we are pleased to welcome IMEA Technologies to the group. This acquisition strengthens our international presence and allows us to offer a truly attractive value proposition to both managers and customers.”
Ayoob Chekkintakath, CEO, IMEA Technologies, added:
“Our joining E&V, a major participant in the international market, marks a significant milestone in our company’s development. We share a similar vision and culture, and I am confident that IMEA Technologies will continue to thrive within the E&V group, while continuing its long-term relationships with key suppliers and customers.”
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About EIGENMANN & VERONELLI SpA
Eigenmann & Veronelli is a global solutions provider in the field of specialty chemicals and food ingredients, with a direct presence in 4 countries and a commercial presence in more than 30 countries. Headquartered in Rho, Milan, Italy, E&V is known for its effectiveness and efficiency, combining local market knowledge with international chemical innovation. The E&V Group in 2022 had a total revenue of €417 million and 340 employees.
To learn more about E&V, please visit: www.eigver.com
About IMEA TECHNOLOGIES FZC
IMEA Technologies is a regional distributor of specialty chemicals with an industrial focus, such as emulsifying polymers for industrial, coatings, plastics, inks, water curing, insulation and adhesives, oil and gas, construction, as well as cosmetic and cleaning uses. It is headquartered in the free zone at Sharjah International Airport (United Arab Emirates) and has offices and warehouses in the country. IMEA Tech. for a total revenue of 17.7 million euros in 2022.
To learn more, please visit: www.imeatech.com
The original language text of this statement is the official, approved version. As for the translation, it is provided for assistance only, and reference must be made to the original language text, which represents the only version with legal effect.
2023-09-04 09:33:39
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