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Redox Ltd (ASX:RDX, or ‘Redox’ or ‘the Company’), a leading global chemical, ingredients and raw material distributor, announces that it has agreed to acquire 100% of the shares of Oleum Pty Ltd and Oleum Holdings Pty Ltd (‘Oleum’), a specialty and commodity chemicals distributor to the agriculture, mining, personal care and surface coatings sectors.

The acquisition, which is consistent with Redox’s strategy, expands the Company’s customer base in Australia, enhances supplier relationships with globally significant specialty chemical manufacturers and widens the range of products available to Redox’s established clientele.  It will allow the Company to better serve the needs of a larger number of clients and help to accelerate growth in key market segments.

Founded in 2015, Oleum is an Australian chemical distributor with a strategic portfolio of surfactants. Oleum sells across a wide range of industries and has a particular focus and strength in Crop Protection and Household/Personal Care. Headquartered in Melbourne, the company consists of a team of 5 who have achieved an outstanding track-record of excellent customer service across a range of compelling offerings from some of the world’s most renowned manufacturers. Sales revenue in 2023 was approximately A$30m.

John Lemanis, Director of Oleum, says:

“Redox is the perfect home for Oleum, the businesses are strategically well aligned and will be highly complementary to each other. My team is excited to join Redox which will leverage what’s great about us with the benefit of Redox’s leading software system, wide logistics network and larger team of salespeople.”

CEO & MD of Redox, Raimond Coneliano, added:

“This is a special opportunity, and we are delighted to welcome John and the Oleum team to Redox. Together our combined knowledge and product portfolio will be an exciting prospect for Australian customers of both companies. In time, we anticipate the opportunity to promote select Oleum products and suppliers to our clients in the United States and around the world. This certainly helps cement Redox as the pre-eminent distributor of chemicals in the region and will provide new avenues for growth.”

Transaction details and transition arrangements

A Share Sale Agreement was executed by the parties on 2nd July 2024, with a simultaneous completion of the transaction. As a result Redox has acquired the key assets of the business as of this date.

Customers and suppliers should continue to deal with Oleum Pty Ltd as per pre-acquisition, it is expected that integration will be completed on the 1st of August 2024 after which all new orders should be placed upon Redox Limited.

Reach out to your Redox or Oleum representative for more details.

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ICIS Chemical Business Magazine has unveiled its annual Top 100 Chemical Distributors list for 2024, and Australian-based global chemical distributor Redox has risen to new heights in the rankings. 

ICIS Chemical Business Magazine has unveiled its annual Top 100 Chemical Distributors list for 2024, and Australian based global chemical distributor Redox has risen to new highs in the rankings.

Redox confirms it’s place as the largest chemical distributor in Australia, 15th largest in the Asia-Pacific (APAC) region, and the 33rd largest globally (up from 34th rank).

The prestigious list features 323 of the world’s leading chemical distributors, with rankings determined based on revenue generated during the 2023 calendar year.

Remarkably, Redox has made impressive strides in North America, climbing 14 positions as we further expanded our footprint in the US markets with 6 locations.

This achievement underscores the value that Redox delivers to its clients and suppliers, which is made possible by its team’s dedication and hard work.

For the full report, click here.

As part of our commitment to constructive and meaningful support to improving advocacy for industry Redox has joined the Bulk Liquids Industry Association (BLIA).

The association represents businesses that import, export, ship, store, or transport bulk liquids across Australia and provides an important forum for information exchange and discussion of issues relevant to the industry.

The BLIA liaise with relevant port authorities to improve the economics and efficiency of bulk liquids movements into and out of Australian ports and represent members’ interests relating to existing or proposed legislation, industrial agreements or awards.

We look forward to adding our voice and support to debate on important issues of industry debate.

Redox Limited (ASX: RDX) is pleased to announce that Redox has been selected for inclusion in the Standard & Poor’s (“S&P”)/ASX 300 Index by the S&P Dow Jones effective prior to ASX market opening on March 18, 2024.

Raimond Coneliano, CEO and Managing Director, comments, “We are very pleased that Redox has been selected for inclusion in the S&P/ASX 300 Index. This was one of our aspirations during our IPO process last year and we’re satisfied to have achieved this milestone so quickly. In a way, this is recognition of the enduring value that the company has built over nearly sixty years as a leading chemical and ingredients distributor coupled with an exciting growth trajectory as we expand globally. S&P/ASX 300 Index inclusion places Redox amongst the 300 largest securities traded on the ASX. It should help increase Redox’s trading liquidity through incremental demand for our shares from institutional investors and fund managers who track the composition of the Index and benchmark their performance against it.”

The S&P/ASX 300 is designed to provide investors with broader exposure to the Australian equity market. The index measures 300 of Australia’s largest highly liquid securities listed on the ASX by float-adjusted market capitalization. The S&P/ASX 300 index covers the large-cap, mid-cap, and small-cap components of the S&P/ASX Index Series.

This index is designed to provide investors with broad exposure to the Australian equity market while allowing them to benchmark against a wide selection of opportunities based on specific size and liquidity parameters.

Redox Limited (Redox) has agreed to purchase the business of New Zealand based specialty plastics distributor Element Raw Materials Ltd (ERM) with the transaction expected to be completed on the 13th of December 2023.

Founded in 2010 by Jason  Reid & Kathy Wilson, ERM has developed an enviable position amongst the Australian & New Zealand plastics industry as a leading distributor of elastomer, polymer and polymer compounds with a focus on innovation and customer relationships. Earning a place in Deloitte’s Fast 50 2022 for New Zealand and winning the Otago sales growth award for consumer products, ERM has a wide range of products including emerging green polymer chemistries.

CEO & MD Raimond Coneliano said “This is a banner year for our plastics division and this acquisition cements the company in some high-value, specialty products with the world’s best manufacturers. Redox continues to be the premier route to market for the region providing unparalleled access to products, customers and suppliers delivered through personalised service.”

Jason Reid thanked the Redox team “We are thrilled to announce Element customers will continue the successful growth pathways established over the past 13 years. Now in partnership with the experienced team at Redox and with the efficiencies of scale Redox can provide, we look forward to offering even more value to customers and further expanding the strong technical and  commercial support provided.”

For more information please contact your Redox representative.

From all of us at Redox, we wish you a merry Christmas and a Happy New Year!

We will be closed for all public holidays across all of our branches. See below for our office closure dates:

Australia

New Zealand

Malaysia

United States

Operating hours for all Redox-operated warehouses across Australia

Due to our transport contractors’ reduced capacity and availability, deliveries may be affected. It is advised that customers plan longer than usual lead times.

Below are the operating hours for all Redox operated warehouses across Australia:

Please talk to your representative or complete our online enquiry form for any further enquiries.

Redox is pleased to announce an expansion of our association with QatarEnergy to distribute the Lotrene polymer range, which will now encompass New Zealand.

As of the 1st of January 2024, our New Zealand clients will have access to a range of grades, including – 

Redox CEO and MD Raimond Coneliano welcomed the new partnership: “We enjoy a great working relationship with QatarEnergy in Australia and are excited to bring the same great portfolio to our clients in New Zealand. We believe we’re well positioned to add value through our extensive network of warehouses, industry-leading logistics, three local sales offices (Auckland, Hawkes Bay & Christchurch) and famously friendly team of professionals”.

Customers should contact their local Redox representative to discuss forecasts and shipment plans before the commencement date to ensure a smooth transition.

About QatarEnergy 

QatarEnergy operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. ​​The first well, Dukhan 1, was drilled in 1939. Development continued after World War II, and in 1949, the first crude exports occurred, and the first offshore concessions were granted. In 1960, the Idd Al-Shargi and Maydan Mahzam fields were discovered. The largest offshore field, Bul Hanine, was discovered in 1970 and came onstream in 1972. Qatar Energy ​was created in 1974.​ Today, QatarEnergy is amongst the largest producers of oil & gas and downstream polymers. Their Values are – Integrity, Excellence, Collaboration, Responsibility, Respect & Safety.

Redox are proud to announce another sales record with revenue growing to $1.26b, up from $1.08b in 2022.

CEO & Managing Director Raimond Coneliano said “We achieved a record FY23 sales result with revenue increasing 16.2% to $1.26 billion over the prior year. This is a fantastic achievement despite the industry at large continuing to face uncertain global economic and trading conditions and pricing volatility. The record sales performance was supported by our strategic decision in the first half of the year to secure inventory to reliably meet our customers’ demand.

As such, Redox was able to maintain its strategic leadership in its core market of Australia and New Zealand, delivering important gains in share of wallet with some of our larger customers, which was supported by adding exciting new products to our diversified portfolio.

In the US, a key growth market for Redox, we continued to grow our presence by expanding into four new locations, bringing our network to six. This geographic expansion and new customer wins have driven strong revenue growth, and we are confident the expanding platform will continue to maintain the positive momentum we are experiencing in the US.

In Asia, sales in Malaysia were relatively stable in FY23 while we also registered a new entity in Singapore to take advantage of the opportunities in that market.”

The company thanks it’s loyal customers, suppliers and team members for their support during the year.

Redox has commenced the installation of electric chargers at its sites starting with 12 units at its head office in Sydney, to help promote the adoption of zero-emission vehicles and better utilise the renewable solar energy that the company produces.

With the growing adoption of zero-emission vehicles in Australia, accounting for 8% of new car sales, we have taken a progressive step by introducing electric vehicle (EV) options for our employees. This decision empowers our workforce to actively contribute to decarbonisation efforts and reaffirms our position as an industry leader.

Redox has installed 12 EV chargers distributed throughout our Minto site. These are a free amenity which we are providing to all staff.

The charging infrastructure overlays our existing significant investment in our sites, equipping them with photovoltaic solar generation systems with a total capacity of 600kW. We are immensely proud that our commitment to practical initiatives contributed to our recent recognition with the prestigious Silver medal sustainability rating from Ecovadis in 2023.

We plan to gradually expand this infrastructure to other Redox-operated sites, making sustainable transportation solutions more accessible.

 

On Monday, the 3rd of July 2023, at midday in Sydney, the company was officially listed on the Australian Securities Exchange (ASX).

This is the culmination of more than 58 years of hard work by the Coneliano family and our loyal employees; we believe that listing on the ASX has strengthened the company and will provide it with a foundation to grow into the future.

The company thanks our advisors UBS, Ord Minnett, Herbert Smith Freehills, Deloitte and Citadel Magnus for their assistance throughout the IPO process.

Finally, we extend a warm welcome to our new shareholders of Redox.