Pan-European speciality chemicals distributor Azelis (Antwerp / Belgium; www.azelis.com) has added to the string of acquisitions it made during the past 10 years. On 19 January 2011, the company announced that it had successfully acquired Serbia’s second largest distributor, Finkochem (Belgrade; www.finkochem.com). Further details of the deal were not disclosed although it was said that Finkochem general manager and shareholder Dubravka Mirkovic is to stay on as general manager.

Established in 1991, Finkochem employs 20 staff who service more than 300 customers from Belgrade. Azelis believes the acquisition will accelerate its growth not just in Serbia but in the entire region, especially in combination with its existing operations in Croatia.

Welcoming the latest addition to his group, Azelis CEO Joris Coppye said: “2010 has been a remarkable year for Azelis with a successful acquisition at the end of the year. We will continue this trend in 2011 by further developing our existing resources, but also focusing on new acquisition opportunities.”