Chemical and manufacturing solutions provider Atul, part of $1.5 billion Lalbhai Group, today announced it has formed a 50:50 joint venture with Swiss company M Dohmen.
The JV will enable Atul to offer solutions to its customers in automotive, wool, polyamide, dyes and textile in India and markets not reached by Dohmen. The Swiss firm will service with sulphur, reactive and other dyes manufactured by Atul's colours division, a company release said here.
"The alliance would help both players significantly increase synthesis and research capability. It is expected to substantially strengthen the competitive advantage of both companies and significantly enhance their customer focus, relationships and servicing," it said.
With current sales of $350 million, Atul serves across the sectors such as aerospace, agriculture, construction, flavours and fragrances, paint and coatings, paper, pharmaceuticals and textiles.
In 1952, Atul became the first Indian company to have manufactured synthetic dyestuffs on a large-scale basis.
