Updated on 20 February 2013
Netherlands-based IMCD acquires India-based Indchem
Singapore: Netherlands-based IMCD has acquired India's Indchem International. The business of Mumbai-based Indchem has already been fully integrated into IMCD India and all key personnel have transferred to IMCD.
"The two companies share a culture of having a focus to grow as a firm that offers an entire range of excipients, thus providing a single stop solution for all their clients' formulation needs," commented Mr Ashvin Patel, IMCD business director, India.
"With Indchem's excellent customer service and technical support on board, IMCD will be able to further strengthen our presence on the Indian market," added Mr Patel.
Mr Narayan Sainathan, former owner of Indchem and the new head of the pharmaceutical business unit, IMCD India, added, "With strong partnerships with our existing principals on one hand, and our dedication to deliver best-in-class services and enhance our technical team on the other, we are excited about opportunities to bring innovative and complimentary products to our customers."
Mr Vijay Ranshinge, MD, IMCD India, said that, "Indchem is a reputable player in the pharmaceutical market and their portfolio perfectly complements ours in India. With our group network and technical expertise, we will be well positioned to better serve our customers throughout India. This pan-Indian approach will further enhance the service and products that we can offer to the customers in this market."