DCM Shriram forms JV with US-based Axiall for polymer compounding

DCM Shriram Consolidated Limited (DSCL) has entered into a joint venture agreement for its polymer compounding business with Axiall Corporation, a North American manufacturer of chloro-vinyl, aromatics and building products.
 
Under the agreement, Axiall will invest Rs 34.65 crore to acquire a 50% stake in in Shriram Vinyl Polytech (SVP), a 100% subsidiary of DCM Shriram Consolidated. Consequently, SVP will have access to Axiall’s polymer compounding technology and market knowledge. This arrangement is intended to enable SVP to launch latest-generation polymer compounds in India, offering more cost-effective polymer solutions for different applications to Indian customers.
 
“We are excited to partner with Axiall, given its expertise and technology in the PVC and CPVC Compounding industry. We believe the JV will be able to offer innovative and competitive solutions to its customers. This partnership is intended to allow us to adapt Axiall’s proven successes in the International marketplace using state-of-the-art technology in combination with the strengths of Shriram Vinyl Polytech in the Indian Polymer space,” said Ajay Shriram, Chairman and Senior Managing Director, DSCL and Vikram Shriram, Vice Chairman and Managing Director, DSCL, in a press release.
 
William Doherty, Vice President of the Compound Business, Axiall, said, “We are delighted to initiate our relationship with DSCL and to enter the Indian marketplace. Shriram Vinyl Polytech is well-recognized in the PVC compounding segment in India. Combining the resources of our world-class technical centers is intended to allow the joint venture to offer a broadened portfolio of unique product solutions to the Indian market. We look forward to a long relationship with all of the associates of DSCL, as well as with the customers and suppliers.”
 
Axiall's products can be used in high-performance plastics, pulp and paper production, packaging, chemical intermediates, pharmaceuticals, medical and agricultural applications, and paints, acrylics and varnishes. Under the Royal Building Products and Exterior Portfolio brands, Axiall manufactures a complete line of custom and other vinyl-based building and home improvement products including window profiles, siding, pipe and fittings, mouldings and trim, and decking.