30th July 2014 / by admin
Cathay Investments acquires Umeco Distribution Limited
Cathay Investments Limited is pleased to announce the acquisition of Umeco Distribution Limited (formerly GPRMS Limited) from Cytec Industries Inc.
Umeco Distribution Limited, which will change its name to Cathay Composites Limited, is one of Europe’s leading composite distributors and had revenues of over £31m for the year ended 31st December 2012.
Over the last 40 years, it has developed a hugely successful business through its local expertise and experience and by its ability to combine the delivery of world class products with world class service.
The business has strong long term supply partnerships with the world’s leading composite manufacturers such as Ashland performance materials, Jushi Group and Cytec, which enables it to offer a wide range of world class composite products to its customers.
“We are excited to continue our long-standing, successful relationship with Cathay Composites” said Andrew Miller, sales director composites, Ashland Performance Materials, EMEA.
Cathay Composites joins Marpex Chemicals Limited in the Cathay group of companies. Marpex specialise in the export of chemicals used for coatings and personal care products, supplying markets across Africa and the Middle East.
Ben Chaing, Managing Director of Cathay Investments said, “Cathay Composites is a core part of our strategy to expand into new markets and products. We look forward to working with the Cathay Composites team to grow and develop the business further. We are very excited to develop the relationships with Ashland, Jushi and Cytec together with our other supply partners.”