Cathay Investments has announced the acquisition of Umeco Distribution (formerly GPRMS), one of Europe’s leading composite distributors, from Cytec Industries.

Umeco Distribution

Umeco Distribution, which will change its name to Cathay Composites, had revenues of over £31m for the year ended 31 December 2012.

Over the last 40 years, it has developed a successful business through its local expertise and experience. The business has strong long term supply partnerships with the world’s leading composite manufacturers such as Ashland performance materials, Jushi Group and Cytec, which enables it to offer a wide range of world class composite products to its customers.

“We are excited to continue our long-standing, successful relationship with Cathay Composites,” said Andrew Miller, sales director composites, Ashland Performance Materials, EMEA.

Joining Cathay group

Cathay Composites joins Marpex Chemicals and Wardel Chemicals in the Cathay group of companies. Marpex and Wardel specialise in the export of chemicals used for coatings and personal care products, supplying markets across Africa and the Middle East.

Ben Chaing, Managing Director of Cathay Investments, said: “Cathay Composites is a core part of our strategy to expand into new markets and products. We look forward to working with the Cathay Composites team to grow and develop the business further. We are very excited to develop the relationships with Ashland, Jushi and Cytec together with our other supply partners.”

Brian Harpur, Managing Director of Cathay Composites, said: “We are delighted to join the Cathay Group. With our shared approach to business and focus on customer service, we are confident that we will take full advantage of the opportunities that arise from such a strong strategic fit.”

www.umeco.com