July 29, 2022
IGM Resins, a Netherlands-based global provider of energy curing raw material solutions, recently acquired Litian, a Chinese manufacturer of energy curing resins. This acquisition will help IGM further expand its global footprint, strengthen its supply chain, and enhance its position in energy curing solutions with a combined product portfolio. IGM now has three distinct product lines—a large range of photoinitiators, a strong offering of energy curing resins, and a selection of additives—boosting its position in the energy curing industry. This transaction also supports IGM’s backward integration of key raw materials, while reinforcing its local presence in Asia.
Litian is currently the second-largest Chinese producer of UV acrylates. It offers a complete portfolio of customizable monomers and oligomers and has valuable capacities of ployether polyols, the key raw materials for monomers.
In addition, Litian has demonstrated a strong commitment to safety and sustainability over the years with its “safety first, environmental protection first” principle, which made the company a second-level safety standardization enterprise in 2015 and, to date, has never had a major safety accident. Furthermore, 80 per cent of the company’s electricity consumption is from wind power. Litian can also manufacture all products through a self-developed toluene-free process to meet market demand and continues to invest in three-waste treatment technologies and facilities.
For IGM, this acquisition marks an important milestone on its “Go, Gro, Green” strategic journey as the company looks to develop its global footprint and supply chain while considering its sustainability roadmap.
“By acquiring Litian, a leading global resin manufacturer for UV technology with who we share a close relationship based on shared values, we will be able to offer more value to our customers, drive the resilience of our organization by growing a full portfolio of energy curing solutions, and continue to better position ourselves for the future,” said Wilfrid Gambade, CEO of IMG. “This is a clear step to a more global footprint to support the fast-growing energy curing market. We are happy to welcome the knowledgeable and committed Litian team to the IGM family.”
Lili Zhang, CEO of Litian, adds, “Litian and IGM share a strong partnership of over ten years, and the close collaboration to date reflects the common values of both parties: the care for customers, suppliers, employees, and their families, as well as a commitment stretching back over 20 years to supplying UV materials. Both parties continuously improve their respective capabilities of professional manufacturing and service: Litian expands its industry chain continuously and aims to offer customized infeed materials in the future. As both Litian and IGM recognize, this is a sustainable ambition that has led Litian and IGM to reach this ultimate partnership today.”