Clariant Chemicals (India) today announced the successful closure of acquisition of the masterbatch business of Gujarat-based Plastichemix Industries.
“Clariant in India will now be one of the leading masterbatches producers that will offer a wide range of products,” Clariant Chemicals (India), which is a part of Swiss specialty chemical giant Clariant AG, said in a statement.
In December last year, the company had said it was planning to buy Plastichemix Industries with production facilities at Rania, Kalol and Nandesari for Rs. 135 crore.
Plastichemix, founded in 1977, serves all sectors of the plastic processing industry. The product range is marketed under the brand names ‘Spectramix’ ‘Polyadd’ and ‘Polyfill’.
Reacting to the development, company’s vice chairman and managing director Deepak Parikh said, “We believe that reinvesting in our businesses will strategically align our business goals and objectives globally.”