MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, has announced the intention to acquire Plastichemix Industries, a masterbatch business in India, located in Vadodara with production facilities in Rania, Kalol and Nandesari in Gujarat (India), according to the company's press release.
Plastichemix Industries is a leading supplier of black, white, filler and colour masterbatches, additive masterbatches, flushed pigments and mono-concentrates as well as engineering plastics compounds.
With this acquisition, Clariant Chemicals (India) Limited (CCIL) gains a leading position in the masterbatches business in India. The deal enables the company to offer a strong and extensive product portfolio with customized products and solutions and to expand its customer base significantly.
As part of the future business approach an upgraded Technical Service Laboratory will be introduced to offer the market highly innovative and customized products.
"This acquisition is part of our global strategy to explore business opportunities in our Masterbatches business and to focus on emerging markets like India. The strong growth perspective of the plastics industry results in a bright future for the masterbatches business in India", says Hariolf Kottmann, CEO of Clariant.
Clariant's BU Masterbatches, with more than 50 manufacturing plants around the world, is a recognized global leader in color and additive concentrates and performance solutions for plastics.
As MRC reported earlier, this summer, Clariant and Tasnee, one of the largest industrial conglomerates in Saudi Arabia, signed an agreement to establish a masterbatches joint venture in Saudi Arabia. Within the framework of the agreement, through its 100% subsidiary Rowad National Plastic Company Ltd., Tasnee will acquire a 40% stake in Clariant's masterbatches operations in the country, already operating under the name Clariant Masterbatches (Saudi Arabia) Ltd. The joint venture will be operational following completion of customary merger control clearance procedures and will keep its main focus on the Arabic peninsulas core market.
Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.
MRC