Azelis has agreed to acquire Chemiplas Agencies, an Auckland-based distributor of speciality chemicals, plastic raw materials and ingredients in Australia, New Zealand and the Pacific Islands. This is expected to close before the end of Q1 2023, after customary closing conditions are fulfilled.
Indian Prime Minister Narendra Modi has laid the foundation stone of a ‘bulk drug park’ at Haroli in the Una district of the northern state of Himachal Pradesh state. In doing so, he said that the park will help to “reduce dependence on API imports”.
Amit Gandhi and Amita Parekh, managing directors and partners at BCG, look at the opportunities for Indian CDMOS in the global agrochemical industry
If one were to imagine the ‘ideal’ industry for India’s chemical exports, it would most likely be globally relevant, with customers who outsource a significant percentage of the critical synthesis steps, and have a strong need for innovation and IP protection. agrochemical CDMO industry ticks all these boxes.
Indian chlor-alkali producer Meghmani Finechem is to spend €21.6 million to expand into the chlorotoluene value chain at its site in Dahej, Gujarat. Due to be commissioned by Q4 2024, this will be the first plant in India to be back-integrated into toluene chlorination, and will produce pharmaceutical and agrochemical intermediates.
Flush with funds from its IPO, Indian speciality chemicals manufacturer Rossari is to make its second acquisition of in as many months. Following on from the $57.7 million acquisition of Unitop Chemicals in June, it has agreed to acquire Tristar Intermediates in two tranches of 76% now and 24% in three years’ time. The total enterprise value of the transaction is $16 million. Tristar’s current management will stay on for at least three years.
Indian fine chemical and API firm Hikal has halted production of an unnamed product from its Crop Protection division at Taloja, near Mumbai, due to the current non-availability of industrial oxygen.
The company said that it anticipates an impact on sales of the product in question. It has kept customers informed and will work with them to make up for the shortfall in delivery in the coming quarters. Production will be ramped back up when industrial oxygen is available again.
Azelis has acquired Spectrum Chemicals and Nortons Exim in India from the Mehta family on undisclosed terms. Both specialise in the distribution of speciality chemicals for home care, road markings, agrochemicals and other applications. Current owner Parindu Mehta will remain at the helm.
