INDIAN CHEMICAL FIRMS ARE LOOKING FOR ACQUISITIONS

Indian Companies Looking for International Acquisitions and Activities
With rapid growth in their domestic market, Indian chemical firms are looking for international acquisitions and other activities that will provide access to cheaper feedstocks and new high-growth markets.Tata Chemicals recently acquired U.S.-based General Chemical Industrial Products for $1.01 billion (Euro 652 million), making it the second largest global Soda ash producer. With the acquisition, the company has established long-term fundamentals based on demand growth prospects, according to vice president R. Mukundan. Tata is also hoping to build a new plant or expand an existing facility in Kenya.

India-based Nirma also purchase a U.S.-based Soda ash producer – Searles Valley Minerals – the only producer of sodium borates, boric acid and sodium sulfate utilizing the more cost-effective method of solution mining.

Reliance Industries has been actively acquiring Polyester producers, including Hualon, now called Recron (Malaysia) and Trevira, located in Germany. The company has also signed a memorandum of agreement with compatriot firm GAIL to develop a gas-based cracker outside of India. The two companies plan to make a proposal to the Qatar government for a $1.3-billion petrochemical plant. Reliance may also invest in a cracker and polyolefins complex in Peru.

Sourced & published by Henry Sapiecha

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