 "Manali Petrochemicals’ polyol plant")
Manali Petrochemicals, announced on Monday the acquisition of Notedome Limited, a System House based in UK for a total consideration of about Rs 120 crore. The acquisition was done through its UK Subsidiary, AMCHEM Speciality Chemicals UK Limited.
The acquisition has been made through internal resources and funding from international Banks.
The move will facilitate MPL’s progress in new technologies and strengthen the efficiencies of existing systems and applications. It will impel Manali Petrochemical’s expansion plans, and play a significant role in augmenting the company’s capabilities in catering to its global customer base and their respective requirements.
It is also expected to strengthen the speciality and value-added products portfolio, which over the years has witnessed a steady growth in demand, said the company.
Ashwin C Muthiah, Chairman, Manali Petrochemicals, said, “we realise the importance of technology and innovation, which coupled with our leadership and experience we will steer it to expand and further strengthen our stakeholders’ value.”
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Muthukrishnan Ravi, Managing Director, Manali Petrochemicals, said, “It is our endeavour to create a multinational presence through manufacture of value added products. This acquisition will give access to MPL's products in the UK and the wider European market while extending our product offering in the domestic market. Thus we will expand our global customer and product base.”
The company had earlier launched an application centre in Chennai a few months back, which focuses on developing and bettering systems for Polyurethane applications. MPL had also declared its plans to set up a new application centres in Singapore in the next 8-12 months, with further centres expected in Doha and Europe in the near future.
Notedome, established in 1979, is a System House with more than 30-year experience, manufacturing Neuthane Polyurethane Cast Elastomers, catering to customers across 45 countries.
