Solvay Completes Acquisition of Gharda After Mississippi Polymer Technologies: Expansion into Ultra-High Performance Polymers in India & U.S.
Monday May 15, 2:18 pm ET
PEEK and Parmax(R) to Enhance Solvay Advanced Polymers' Ultra Polymers Product Line
ALPHARETTA, Ga., May 15 /PRNewswire/ -- The Solvay Group announces today that it has successfully completed the acquisition of the Polymers Division of Gharda Chemicals in India. Earlier this year, Solvay finalized the acquisition of the US-based start-up company Mississippi Polymer Technologies (MPT). The two operations mark the expansion of Solvay into the upper -- most sophisticated -- segment of the specialty polymers business.
The acquisition of Gharda provides the Solvay Group with outstanding capabilities for the development, manufacturing, and marketing of a new range of specialty grades of ultra polymers such as polyetherether ketone (PEEK), high-performance sulfone polymers, and related monomers. The Polymers Division of Gharda Chemicals operates an R&D center and production plant in Panoli, Gujarat State. Mississippi Polymer Technologies, Inc. (MPT) is the creator of Parmax® SRP, a line of transparent, self-reinforcing polymers, which represent an exciting advance in the mechanical properties of engineering thermoplastics.
"These acquisitions are essential milestones in Solvay's strategy of sustainable, profitable growth and geographic expansion," said Vincenzo Morici, General Manager, Strategic Business Unit Specialty Polymers. "We now have an unrivalled line of high-value specialty polymers as well as a strong foothold in one of the world's most dynamic economies, where the demand for our products is strong," Morici explained.
Solvay plans to manage both acquisitions within its Solvay Advanced Polymers, L.L.C. operating unit headquartered in Alpharetta, Georgia. Additionally, Solvay will invest in Gharda Polymer's strategic location and develop it into a global center for the production of specialty polymers and other innovative materials. As a first step in this direction, Solvay Advanced Polymers will invest to expand PEEK production at the Panoli site as part of a broader push to establish a strong market position as a supplier of PEEK.
"With the addition of the talented people and assets of Gharda Polymers and MPT, we are able to deliver our customers more plastics with more performance than any other supplier in the world," added Roger Kearns, president of Solvay Advanced Polymers. "These acquisitions also include sizeable investments in building out our technical, manufacturing and research capabilities around the world. Our success depends on our ability to continually innovate new and custom solutions to the challenges and business demands of our customers."
SOLVAY ADVANCED POLYMERS is a member of the Solvay Group. Solvay Advanced Polymers produces more plastics with higher performance than any other company in the world. This gives design engineers worldwide more ways to solve top design challenges in automotive, medical, electronics, aerospace and other demanding industries.
THE SOLVAY GROUP is an international chemical and pharmaceutical group headquartered in Brussels, Belgium. Including the recently acquired company Fournier Pharma, the Solvay Group, whose companies employ about 33,000 people in 50 countries, recorded sales for 2004 of EUR 8.5 billion generated by its three sectors: Chemicals, Plastics and Pharmaceuticals.
GHARDA CHEMICALS, established in 1967, is a research-based company with three manufacturing units. The company has won several national awards in India for technical innovation in the chemical industry and has many firsts in the field of dyestuffs, pesticides,
Source: Solvay Advanced Polymers
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