Iberchem Group, part of Croda International, posted sales in excess of €200 million for the first time in 2021.
The Spanish outfit said its success in fiscal year 2021 was due to steady organic growth supported by an increasing number of sales synergies and business opportunities resulting from its acquisition by Croda and the acquisition of Grasse-based fragrance house Parfex in 2021.
“We have seen an exciting year on many levels. Despite a certain lack of visibility during the first half of the year due to the ongoing pandemic, we observed rapid growth over the last two quarters,” said Iberchem finance director Manuel Gonzalez.
“Across a large portion of our portfolio, we saw increased activity in the project pipeline. Even with Covid continuing to impact some emerging markets, we were able to sustain a positive financial performance, aligned with our 2025 growth plan,” he added.
“We showed resilience and recovered in the areas of the business most affected by social distancing and travel restrictions, first in the Middle East and ultimately in Africa”.
José Balibrea, managing director of Iberchem Group, added: “In terms of overall business strategy, I am extremely pleased with how things are unfolding with Croda. Both companies are now more familiar with each other and can better align their efforts, while at the same time preserving the success Iberchem’s business model has enjoyed over the last three decades.
“There are significant whitespaces in Western Europe and the US where Iberchem has a huge potential to grow with the benefit of Croda’s existing network and operations.
“We are already in a joint collaboration with Croda’s botanical business unit in China and have an exciting project to be unveiled in this market, which is destined to multiply our existing production and R&D capabilities.”
