2013-Aug-08
Chemetall acquires all shares of Indian Joint Venture
Frankfurt, Germany, August 8 2013. Effective July 1, 2013 Chemetall becomes the sole owner of its Indian joint venture Chemetall-Rai. Chemetall has acquired the remaining fifty percent shares of its former partners. In 1995 the Indian joint venture was founded with the families Rai and Nath. “The acquisition is a further milestone in our growth strategy”, says Joris Merckx, President Chemetall and adds “As a sole owner we can react faster to the demands of the Indian market and further expand our surface treatment business in the Asian region.”
Already largely invested in India
To keep pace with the growth dynamics of the Indian market, Chemetall-Rai invested in a second modern production facility in 2012. The new plant is located in Chennai, one of the most important automotive centers in the Indian subcontinent. In 2012 the company also acquired the chemical business of Gramos, a leading local player for surface treatment technologies in the Indian automotive industry.
Asis Ray, Managing Director of Chemetall India, comments “With our global key account structure we can directly respond to the requirements and needs of the global car manufacturers and suppliers. Our local customers value our high quality standards and our technical services, which they are used to in other regions.”
Dynamic growth in India continues
For many years, the surface treatment company participates in the positive growth of the Indian economy. Besides a slight decline of economic growth forecast, India continues to be the fastest expanding national economy in the world. With 1.2 billion inhabitants, India is expected to be the most populated country by the middle of this century and with its gross domestic product (GDP) it will become the world’s third largest market after China and the USA.
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Article: Chemetall acquires all shares of Indian Joint Venture
About Chemetall:
Chemetall, a division of Rockwood Holdings, Inc. (NYSE: ROC), is a leading global supplier of special chemicals with a focus on processes for the surface treatment of metals and plastics. Chemetall is headquartered in Frankfurt am Main, Germany, and comprises about 40 companies and 22 production sites worldwide. With 2,000 employees, the Group achieved sales of about 551 million Euro (2012). More at www.chemetall.com.
