German distribution company Biesterfeld (Hamburg; www.biesterfeld.com) said it has established a joint venture by acquiring a majority stake in Singapore-based GME Chemicals (www.chemicals.com), a distributor of speciality chemicals and polymers in Southeast Asia. Biesterfeld is to take over the remaining shares of GME Chemicals in five years, according to the contract. GME Chemicals operates subsidiaries in Malaysia, Indonesia, Vietnam, Thailand and China.

The acquisition continues Biesterfeld’s geographic expansion and growth strategy. Earlier this year, the company extended distribution agreements in EMEA and the CIS region (see Plasteurope.com of 28.01.2021 and 23.01.2021).