The company has made an official announcement of the acquisition of the pulp and paper chemical distribution business from Connell Bros. Co. (CBC) in Thailand, Philippines, Malaysia and Vietnam.
September 2, 2018
All assets and business associated with the Solenis pulp and paper business represented by CBC in these countries are part of the deal, including inventory, accounts and field equipment. Additionally, CBC sales and technical personnel will be invited to transfer to Solenis, continuing the operation of the business. The financial terms of the deal were not disclosed.
“Southeast Asia is now a fast-growing pulp and papermaking territory and represents a significant growth opportunity for Solenis,” said John Panichella, President and CEO of Solenis. “We have worked in close collaboration with the Connell Brothers Southeast Asia team for a number of years, so this is a logical next step in our desire to provide total solutions to our customers in this market.”
Jeffrey Streblow, Senior Vice President of CBC, added, “CBC is helping to manage a smooth transition for our longtime paper customers as we transition this business over to Solenis.”