The JV, Clariant IGL Specialty Chemicals Private Limited, is 51% owned by Clariant and has about 200 employees. It combines India Glycols’ biobased EO derivatives business, which operates an alkoxylation plant in Kashipur, and Clariant’s industrial and consumer specialties operations in India, Sri Lanka, Bangladesh and Nepal.
“The successful closing of this joint venture strengthens our core portfolio and makes Clariant one of the leaders in green ethylene oxide derivatives,” says Conrad Keijzer, CEO of Clariant, in a press statement. The tie-up also makes Clariant one of the leading surfactant suppliers in India.
Clariant expects the JV to contribute about CHF 50 million ($50 million) in fiscal year 2021.