Agreement for the sale of Chemiplas to Azelis

The Board of Chemiplas are delighted to announce that shareholders have signed an agreement to sell 100% of the shares in Chemiplas to Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry. Following the sale Chemiplas will continue to operate as a separate entity for some time to ensure a smooth transition. All staff, including the current Executive Directors, will remain with the business in their current roles, ensuring that it will be business as usual for our customers, Principals, staff, and service providers.

Over recent years the Directors of Chemiplas, as part of succession planning, have been considering how best to ensure the long-term ongoing success of the business. After thorough and careful consideration, we concluded that Azelis would be the ideal party to take over ownership of our business to not only secure its future but add their considerable strengths in innovative services to enhance our capabilities and added value for customers and Principals alike.

The transaction is expected to close before the end of the first quarter of 2023, after fulfilling customary closing conditions.

Please also see the following link for further information: https://www.azelis.com/en/news/azelis-strengthens-asia-pacific-footprint-acquisition-of-chemiplas-agencies-ltd-australia-0