 "Clariant India to acquire masterbatch maker Plastichemix for Rs 135 crore")
Specialty chemicals major, Clariant Chemicals (India) Ltd, has announced its plans to acquire Plastichemix Industries, a pioneer in the masterbatches business in India, with production facilities at Rania, Kalol and Nandesari in Gujarat. Plastichemix Industries is a leading supplier of black, white, additive, filler & colour masterbatches, flushed pigments & mono-concentrates and engineering plastics compounds. The deal closure is planned for Q1, 2014.
Dr Deepak Parikh, Vice-Chairman and Managing Director, Clariant Chemicals (India) Ltd, commnetd, “Clariant continues to reshape its portfolio and maintain profitability in its core businesses by exploring organic and inorganic business opportunities. This acquisition reinforces our long term growth strategy in India and will further elevate our market position. Clariant sees a bright future for masterbatches business in India and we are happy to forecast double digit growth in the near future creating value for all our stakeholders.”
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According to Sandeep Puri, Vice President - BU Masterbatches, Clariant Chemicals (India) Ltd, after this acquisition, Clariant will be the largest player in the specialty masterbatches business in India. “With a stronger product portfolio and enhanced customer base, we would be able to service an extensive network. We will also introduce an upgraded Technical Service Laboratory that will support modernisation of our manufacturing practices, leading to the creation of customised products. The new facility also offers additional infrastructural capabilities that will help rapid business growth,” he added.
Mayur Sheth, Partner & Technical Director, Plastichemix Industries, said, “Clariant will bring in global expertise that will offer highly innovative and customised product offerings. With this, Clariant looks forward to taking the masterbatch business in India to the next level.”
Clariant’s Masterbatches business unit is a recognised global leader in colour and additive concentrates and performance solutions for plastics. Clariant offers a diverse portfolio of standard and custom colour and additive products with production of more than 10,000 colour matches which are completed each year. With more than 50 manufacturing plants around the world, Clariant Masterbatches products, technology and service deliver competitive advantages that foster long-term customer relationships.
Dr Deepak Parikh, Vice-Chairman and Managing Director, Clariant Chemicals (India) Ltd, commnetd, “Clariant continues to reshape its portfolio and maintain profitability in its core businesses by exploring organic and inorganic business opportunities. This acquisition reinforces our long term growth strategy in India and will further elevate our market position. Clariant sees a bright future for masterbatches business in India and we are happy to forecast double digit growth in the near future creating value for all our stakeholders.”
ALSO READ: Demand for plastic recycling and biodegradable polymers to increase in India: AIPMA
According to Sandeep Puri, Vice President - BU Masterbatches, Clariant Chemicals (India) Ltd, after this acquisition, Clariant will be the largest player in the specialty masterbatches business in India. “With a stronger product portfolio and enhanced customer base, we would be able to service an extensive network. We will also introduce an upgraded Technical Service Laboratory that will support modernisation of our manufacturing practices, leading to the creation of customised products. The new facility also offers additional infrastructural capabilities that will help rapid business growth,” he added.
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Mayur Sheth, Partner & Technical Director, Plastichemix Industries, said, “Clariant will bring in global expertise that will offer highly innovative and customised product offerings. With this, Clariant looks forward to taking the masterbatch business in India to the next level.”
Clariant’s Masterbatches business unit is a recognised global leader in colour and additive concentrates and performance solutions for plastics. Clariant offers a diverse portfolio of standard and custom colour and additive products with production of more than 10,000 colour matches which are completed each year. With more than 50 manufacturing plants around the world, Clariant Masterbatches products, technology and service deliver competitive advantages that foster long-term customer relationships.