Rhodia completes the acquisition of PI Industries' Engineering Plastics business in IndiaNews release
Mumbai, India – April 13th, 2011 ---- Specialty chemical producer Rhodia has completed the acquisition of the engineering plastics business of Indian company PI Industries Ltd (PIIL), after receiving approval of country’s authorities.
Rhodia Polymers & Specialties India Private Ltd is the name of the legal entity created to host Rhodia’s newly integrated assets, including one industrial facility based in Panoli (Gujarat state), R&D capabilities as well as logistics network in India.
“We received enthusiastic feedbacks from both PIIL and Rhodia’s customers and suppliers regarding this strategic move” explained François Hincker, President of Rhodia Engineering Plastics. “All our international partners in the region as well as domestic Indian players are fully confident in our ability to accelerate their growth through a rapid expansion of our activity”.
This acquisition is a major step in Rhodia Engineering Plastics growth ambition in India, aiming at doubling its local production capacities to represent 15% of Indian polyamide compound market by 2015.
PI Industries Limited (“PIIL”) founded in 1947 in Udaipur, Rajasthan, is listed on the Mumbai Stock Exchange. PIIL operates under the following three business units, Agri Inputs (manufacturing and distribution of Agro Chemicals-Pesticides, Insecticides and Herbicides); Custom Synthesis (Custom Synthesis in the areas of Fine Chemicals, Agro Chemicals and Pharmaceutical Intermediates); and PI Polymer (Engineering plastics compounding for the end use in Automotive, Electricals and Home Appliances).
For further information please visit: www.piindustries.com
Rhodia is an international chemical company resolutely committed to sustainable development. As a leader in its businesses, the Group aims to improve its customers’ performance through the pursuit of operational excellence and its ability to innovate. Structured around 11 Global Business Units (GBUs) within 5 business clusters, Rhodia is the partner of major players in the automotive, electronics, flavors and fragrances, health, personal and home care markets, consumer goods and industrial markets. The Group employs around 14,000 people worldwide and generated sales of €5.23 billion in 2010. Rhodia is listed on Euronext Paris.
Rhodia Engineering Plastics is a global specialist in performance solutions based on polyamide 6 and 6.6 for injection molding, extrusion and blow molding. Under the flagship brand Technyl®, Rhodia’s Engineering Plastics activity serves various markets as automotive and transportation, electrical and electronics, construction and industrial equipment, consumer goods.
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