Mumbai-based Clariant Chemicals, a speciality chemicals player, today announced that it would acquire Gujarat-based masterbatches maker Plastichemix Industries for Rs 135 crore.
Post the acquisition, Clariant Chemicals would be the largest specialty masterbatches business producer in India and aims to double its business in the next five years.
Plastichemix Industries has production facilities at Rania, Kalol and Nandesari in Gujarat.
Plastichemix Industries is a leading supplier of black, white, additive, filler and colour masterbatches, flushed pigments and mono-concentrates and engineering plastics compounds. The deal closure is planned for the first quarter of 2014.
Deepak Parikh, vice-chairman and managing director, Clariant Chemicals said, "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."
Sandeep Puri, vice president, business unit, Masterbatches, Clariant Chemicals said, “We will also introduce an upgraded Technical Service Laboratory that will support modernization of our manufacturing practices, leading to the creation of customized products.”
Clariant offers a diverse portfolio of standard and custom color and additive products with production of more than 10,000 color matches which are completed each year. It has over 50 manufacturing plants around the world.
