Clariant and India Glycols Limited announce the successful creation of their 51-49% joint venture for renewable ethylene oxide (EO) derivatives after receiving all necessary regulatory approvals. The joint venture will operate under the name Clariant IGL Specialty Chemicals Private Limited.
Originally announced in March 2021, the joint venture is now effective and combines IGL’s renewable bio-ethylene oxide derivatives business, which includes a multipurpose production facility including an alkoxylation plant located in Kashipur, Uttarakhand (India) with Clariant’s local Industrial and Consumer Specialties business in India, Sri Lanka, Bangladesh and Nepal. The venture aims to be a leading supplier to the rapidly growing consumer care market in India and neighboring countries.
The joint venture will be led by Nitin Sharma, currently head of Clariant’s Industrial and Consumer Specialties business in South Asia. Sharma says, “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.”
For more information, visit: www.clariant.com
