Sino-French partnership supplies essential chemicals for the world's pharmaceuticals and cosmetics

Since founded in 2003, Novacap has developed into a major manufacturer and distributor of essential chemicals for use in everyday products. Today, the Lyon-based company serves more than 650 customers in over 80 countries - being the leader in the pharmaceutical and cosmetics market of aspirin and para-aminophenol (used for paracetamol). The Group also holds leading positions in high-grade sodium bicarbonate as well as in soda ash, phenol and oxygenated solvents, hydrochloric acid and ferric chloride.

In recent years, Novacap has focused on international expansion within key growth markets. Within its 11 facilities worldwide, over half of its total 1,245 employees are based in Asia. The company remains committed to its increasingly important China market.

"While our business is growing in France, we recognize the need to accelerate our international footprint," says Pierre Luzeau, chairman and CEO of Novacap. "We are seeing strong results in Asia, and are increasingly focusing our efforts on strengthening our presence in China in particular."

Last year, the company acquired a 51 percent controlling stake in China's Yangzi Pharmaceutical Chemical, the Chinese co-leader in para-aminophenol production, a chemical intermediate mainly used for the production of paracetamol.

This strengthened Novacap's pharmaceutical and cosmetics division - one of its three divisions (the others are mineral specialties and performance chemicals).

"In China, we have a vertically integrated supply chain which enables us to supply and manufacture directly from our two sites (Wuxi and Taixing) located close to Shanghai," says Luzeau. "We see tremendous opportunities to develop our business in China and meet the demands of the country's domestic market. We want to raise our profile in China and continue to meet the healthcare needs of the country."

Luzeau is focused on achieving success in China's pharmaceutical and healthcare industries through his company's commitment to manufacturing quality products based on sustainable practices, which are a key priority for the Group that is committed towards the United Nations Global Compact. Following its successful acquisition of Yangzi, Novacap aims to keep building a strong reputation in China, and remains open to opportunities for further acquisitions and strategic partnerships.

"Our steps into the important Asian market have proved successful," says Luzeau. "With our well-balanced employee footprint, we consider ourselves a true Sino-French company. I am keen to develop our business in China while promoting relations between our two countries.

"Our willingness to invest in China, our desire to explore opportunities and the expansion of our manufacturing capabilities enable us to deliver solutions that continue to support our customers worldwide."

www.novacap.eu

World Eye Reports provided the story