Toda United acquired its former partner's branch company for iron oxide pigment business development in EU
Novant is an associate company of the Noble Group (www.thisisnoble.com), a Fortune 500 corporation headquartered in Hong Kong and listed on the Singapore Stock Exchange. Novant is an investor and developer of processing and supply-chain infrastructure to support the efficient international transaction of less-commoditized raw materials, with particular focus on flows into the high-growth Asian markets.
Toda United Industrial (Zhejiang) Co., Ltd and Novant Chemicals Limited have a very good business relationship in the fields of iron oxide pigments, and they built a joint venture factory in Zhejiang Province China. Now Novant Chemicals Limited gradually diminished the business of iron oxide pigment, so Toda United and Novant signed a share purchase and sale agreement to acquire Novant Chemical Limited’s branch company in UK Novant Chemicals (Europe) Limited on December 2015.
So the represented assets of Novant Chemicals (Europe) Limited will be transferred to Toda United Industrial (Zhejiang) Co., Ltd including production equipments, technology and the labor relations of staff, etc.. The REACH certificate held by Novant Chemicals (Europe) Limited will also be transferred to Toda United. This will help Toda United to develop the iron oxide pigment business in Europe after acquiring the REACH certificate and technical and talent and sales network in Europe.