German chemical giant to takeover number two in Poland

German chemical producer Brenntag will most likely takeover the second largest chemical distributor in Poland, Holland Chemical International (HCI). After the transaction Brenntag will control nearly 50% of the Polish chemicals market. Brenntag has already submitted an offer to purchase the shares of HCI worth euro 545 million. All that remains is for HCI shareholders to approve the deal. Earlier this year the company bought an Austrian chemicals distributor Neuber which is already present in Poland under the name IXO Neuber. Along with HCI the company is the biggest firm in the sector. HCI says it is not afraid of losing part of the market after it becomes a partner of IXO Neuber. "The sort of components we distribute rather complement each other than exclude. IXO Neuber deals in rubber, solvents and paints, whereas we sell chemicals for the food industry, cosmetics and household chemicals," said HCI head Bogdan Banaszczyk. According to unofficial sources, after the deal Brenntag will integrate HCI with IXO Neuber. (Puls Biznesu, page 4)