 "Chembond divests stake in JV with Henkel")
The Mumbai-based specialty chemicals maker Chembond Chemicals Ltd has signed an agreement with Henkel Adhesives Technologies India Pvt Ltd, a subsidiary of Germany-based Henkel AG & Co KGaA, to divest its 49% shareholding in Henkel Chembond Surface Technologies Ltd.
Established in 1974 by Chembond founder Dr Vinod D Shah, the division was a leading player in the metal treatment industry in the country. “This divestment brings to an end a successful partnership between two highly reputed companies that came together to introduce newer technologies and grow along with the emerging industries in India. Guided by a common vision of exploiting synergies to deliver superior customer value was rewarded with over 40 times growth in sales during the 20 years of the partnership. We have a sense of great accomplishment and wish Henkel well for the future,” said Sameer Shah, chairman and managing director, Chembond Chemicals Ltd.
Nirmal Shah, managing director, Chembond Chemicals Ltd, explained, “Our decision to divest was based on a number of factors, including a strategy to invest in and grow our water treatment, construction chemicals, industrial and high performance coatings, animal nutrition and industrial enzymes businesses. We have also just initiated new businesses like bio-based polyamides and the recently signed JV with Calvatis GmbH for industrial cleaning and hygiene systems for the food, beverage, brewing and dairy industries.”
Chembond Chemicals Limited manufactures specialty chemicals for water treatment, construction, high performance coatings, animal nutrition, industrial enzymes, bio-based polymers and industrial cleaning and hygiene.
Established in 1974 by Chembond founder Dr Vinod D Shah, the division was a leading player in the metal treatment industry in the country. “This divestment brings to an end a successful partnership between two highly reputed companies that came together to introduce newer technologies and grow along with the emerging industries in India. Guided by a common vision of exploiting synergies to deliver superior customer value was rewarded with over 40 times growth in sales during the 20 years of the partnership. We have a sense of great accomplishment and wish Henkel well for the future,” said Sameer Shah, chairman and managing director, Chembond Chemicals Ltd.
Nirmal Shah, managing director, Chembond Chemicals Ltd, explained, “Our decision to divest was based on a number of factors, including a strategy to invest in and grow our water treatment, construction chemicals, industrial and high performance coatings, animal nutrition and industrial enzymes businesses. We have also just initiated new businesses like bio-based polyamides and the recently signed JV with Calvatis GmbH for industrial cleaning and hygiene systems for the food, beverage, brewing and dairy industries.”
Chembond Chemicals Limited manufactures specialty chemicals for water treatment, construction, high performance coatings, animal nutrition, industrial enzymes, bio-based polymers and industrial cleaning and hygiene.