Clariant International Ltd. has made its third plastics-related deal of 2013, acquiring Indian concentrate maker Plastichemix Industries for an undisclosed price.
Vadodora, India-based Plastichemix operates plants in Rania, Kalol and Nandesari, India. The company makes black, white, color and additive concentrates, as well as engineering resin compounds and related products.
In a Dec. 16 news release, officials with Muttenz, Switzerland-based Clariant said that the deal gives the firm “a leading position in the masterbatches business in India.”
“This acquisition is part of our global strategy to explore opportunities in our Masterbatches business and to focus on emerging markets like India,” CEO Hariolf Kottmann said in the release. Masterbatches business unit head Hans Bohnen added that Clariant and Plastichemix “have a complementary product portfolio that will enable us to cater to a large customer base.”
Earlier in 2013, Clariant formed a concentrates joint venture with Tasnee & Sahara Olefins Co. of Riyadh, Saudi Arabia. Clariant also in 2013 bought the organic pigment business of Chinese materials firm Jiangsu Multicolor Fine Chemical Co. Ltd.
In the first nine months of 2013, Clariant's sales essentially were flat vs. the year-ago period at just over 4.5 billion Swiss francs (US$5.1 billion). But the firm's profit — not counting discontinued operations — doubled to 238 million Swiss francs (US$268.2 million) in the same comparison.
Clariant operates 11 business units and posted 2012 sales of about $6.6 billion.