On 6 July 2018, Propapier, a company belonging to Progroup AG, awarded the contract for its new...
CPH Group's chemical division Zeochem to acquire Armar
The Chemistry Division of CPH Chemie + Papier Holding AG is to acquire Armar AG, effective March 1, 2018. Armar, which was founded in 1986 and is domiciled in Döttingen, Canton Aargau, Switzerland, manufactures and distributes deuterated solvents, and is a long-established distribution partner of the CPH Group. The company achieves regular profits on annual sales in the mid-single-digit million Swiss francs region.
Under the sale agreement, Zeochem AG will acquire the assets of Armar AG and integrate the company’s current production into its operations at its new Rüti (Canton Zurich) location.
Adrian Geiger, the shareholder and CEO of Armar, has thus made the arrangements for his own succession. Geiger will also move to Zeochem with the transfer of the business. The deal further ensures long-term continuity and product quality for Armar’s customers. The parties have agreed not to divulge the sale price involved.
The CPH Group develops, manufactures and distributes chemical products, woodbased paper and pharmaceutical packaging films.