Solvay has taken a controlling interest in Sunshield Chemicals, an Indian surfactants producer. The acquisition will enable Solvay's Novecare business to accelerate its growth in India’s home care, coatings and industrial markets.
"We are now better geared to increase our market position in the Indian market that is currently enjoying double-digit annual growth," said Emmanuel Butstraen, president of Novecare.
"This additional bolt-on acquisition further consolidates our leading positions in specialty surfactants in Asia and we are well-equipped to support our customers' development in this part of the world."
Sunshield Chemicals produces a range of surfactants, cross-linkers and antioxidants.