“The successful closing of this joint venture strengthens our core portfolio and makes Clariant one of the leaders in green ethylene oxide derivatives. As part of our strategy, we are committed to adding value through sustainability. Our partnership with India Glycols will make us one of the leading surfactant suppliers in India, with a focus on renewable solutions for home and personal care”, said Conrad Keijzer, CEO of Clariant.
“I am very pleased with the swift manner in which both parties were able to obtain all necessary regulatory approvals. This allows us to now move ahead and leverage IGL’s position as the largest manufacturer of green EO in the world in a value-generating combination with Clariant”, commented U.S. Bhartia, Chairman of India Glycols Limited.
Christian Vang, Global Head of Clariant’s Business Unit Industrial & Consumer Specialties, added: “We experience a growing demand among our customers for home and personal care applications based on renewables. With the joint venture officially established, we will press ahead to fulfill this with innovative, sustainable and high-quality solutions based on the unique capabilities of both partners.”
The joint venture will be led by Nitin Sharma, currently Head of Clariant’s Industrial and Consumer Specialties business in South Asia, who added: “Profitable growth through sustainability is the key target for all of us in this newly formed company. The entire team will work together to leverage the contributions made by both partners to the joint venture into innovative solutions that serve the growing markets around us.” Mr. U.S. Bhartia acts as the joint venture’s Chairman.
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