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Chembond buys Solenis' 45% stake in water treatment chemicals JV

Chembond Solenis Water had registered a turnover of Rs 93.19 crores for 2016-17

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Last Updated : Apr 28 2017 | 3:29 PM IST

Specialty chemicals maker Chembond Chemicals Limited has acquired Solenis Netherlands’s 45 percent stake in their joint venture Chembond Solenis Water Technologies Limited (CSWTL) for approximately $ 7.35 million (about Rs 47 crore). With this, CSWTL will become a wholly-owned subsidiary of Chembond Chemicals.

Formed in 1984, CSWTL offers the entire range of water treatment chemicals namely cooling water treatment chemicals, boiler water treatment chemicals, membrane treatment chemicals, raw water and effluent treatment polymers & defoamers. A pioneer in the field of cooling water treatment chemicals in India, CSWTL had registered a turnover of Rs 93.19 crores for the year ending March 31, 2017.

Chembond Solenis Water serves diverse industries such as steel, power, fertilisers, refineries, petrochemicals, mining, sugar, textile and municipal corporation.