Clariant Chemicals acquires Plastichemix

Mumbai-based speciality chemicals player Clariant Chemicals (India) Ltd today announced the successful closure of the acquisition of Gujarat-based Plastichemix Industries. The deal value was pegged at Rs  135 crore.

Earlier, in December 2013, Clariant Chemicals had announced its intent to acquire Plastichemix Industries with  production facilities at Rania, Kalol and Nandesari.

“Clariant in India will now be one of the leading masterbatches producer, that will offer a wide range of products like black, white, additive, filler and colour masterbatches, flushed pigments and mono-concentrates and engineering plastics compounds,” a company statement here claimed.

Deepak Parikh, vice-chairman & MD, ClariantChemicals  said, “Our recent business developments are a proof of our commitment to the growing Indian market. We believe that reinvesting in our businesses will strategically align our business goals and objectives globally. In this process, we aim to reshape our portfolio and maintain profitability in our core businesses that will benefit all stakeholders.”