Mergers and Acquisitions Solvay Completes Acquisition of Sunshield Chemicals
Solvay has acquired a controlling interest in surfactants producer Sunshield Chemicals of India as part of its growth strategy for Asia...
Brussels/Belgium – "We are now better geared to increase our market position in the Indian market that is currently enjoying double-digit annual growth," explains Emmanuel Butstraen, President of Novecare. "This additional bolt-on acquisition further consolidates our leading positions in specialty surfactants in Asia and we are well-equipped to support our customers' development in this part of the world."
Sunshield Chemicals Limited generated net sales of 943 million Rupees (€ 13.5 million) in its most recent financial year ended March 31, 2012. The company produces and exports surfactants, cross-linkers and antioxidants. Working from its production site near Mumbai, Sunshield Chemicals Limited serves a large number of markets for various applications in agrochemicals, coatings, industrial applications, home and personal care products.