Azelis acquires a majority stakes in MKVN Chemicals and Viet Chemi

Value of the deal which was done through their parent company Bellekimia Singapore was not disclosed in a statement posted on ACN Newswire and Azelis’ website. Both companies are active in personal care, industrial chemicals, agro and food segments as well as supply chain solutions.

Founded in 2000 and with offices in Hanoi and Ho Chi Minh, MKVN Chemicals and Viet Chemi have a strong reputation in Vietnam, serving first-class international principals and 700 customers.

Kamal Hezry Kassim, Managing Director of MKVN and VIET CHEMI, will continue to manage the business and will report to Azelis.

“Growth in Asia Pacific has been one of the strategic priorities for Azelis. By strengthening our presence in Vietnam, we will gain better coverage in the entire region which is key for us to attract new mandates with our existing principals,” said Laurent Nataf, CEO & President of Azelis Asia Pacific.

Vietnam is the 15th most populated country in the world with a very young workforce, increasing purchasing power and growing access to premium products, the statement said.

Azelis has been active in Vietnam since 2015 and employs some of the best industry professionals in the country. Azelis runs application laboratories for Personal Care, Home Care, CASE and Textiles in Vietnam.