Eliokem acquires Apar polymer division
06/11/2007
Paris-based specialty chemicals and polymers producer Eliokem is to acquire Indian corporation Apar Industries’ polymer division for RS1.1 billion ($27.5 million).
According to the company, Apar's polymer division is the only Indian manufacturer of specialty polymers and holds a strong position in the country. Its products offer resistance to tear and abrasion, air, oil and fuel ageing. End-applications include footwear, automotive and industrial uses.
Apar has recently invested a lot in the division, expanding capacity, improving efficiency and consolidating the business at a single production site at Valia, Gujarat.
For the year ended March 2007, it achieved revenues of Rs1.4 billion and is expecting to achieve more than 30% growth by the end of March 2008.Share this story:
