Clariant Chemicals completes acquisition of Plastichemix masterbatch business

Clariant Chemicals (India), a part of Swiss speciality chemical giant Clariant AG, today announced the successful completion of its acquisition of the masterbatch business of Gujarat-based Plastichemix Industries.

"Clariant in India will now be one of the leading masterbatches producer that will offer a wide range of products," Clariant Chemicals (India) said in a statement.

Plastichemix, founded in 1977, serves all sectors of the plastic processing industry. It produces a range of products, which it markets under the brand names 'Spectramix', 'Polyadd' and 'Polyfill'.

In December last year, Clariant announced plans to acquire Plastichemix Industries and its production facilities at Rania, Kalol and Nandesari for Rs135 crore.

''We believe that reinvesting in our businesses will strategically align our business goals and objectives globally,'' company vice chairman and managing director Deepak Parikh said.

''In this process, we aim to reshape our portfolio and maintain profitability in our core businesses that will benefit all stakeholders,'' he added.

Clariant offers a diverse portfolio of standard and custom colour and additive products with a production of more than 10,000 colour matches. It has more than 50 manufacturing plants of masterbatches around the world.

Clariant Chemicals (India) has production facilities for manufacturing textile chemicals, paper specialities and emulsion products at Roha, Maharashtra.

Clariant also produces leather processing chemicals, industrial and consumer specialities, additives and pigments.