Engelhard boosts stake in Indian jv to 90%

03 January 2006 18:17  [Source: ICIS news]

TORONTO (ICIS news)--US catalysts and materials science company Engelhard said on Tuesday it has boosted its stake in its Indian joint venture (jv) Engelhard Environmental Systems India (EESI) to 90% from 60%.

 

New Jersey-based Engelhard said it purchased the 30% stake from India's UCAL Fuel Systems Limited for an undisclosed amount.

 

The remaining 10% of EESI is held by NE Chemcat Corporation, a publicly traded Japanese company of which Engelhard owns 42.2%.

 

The EESI joint venture (jv) was established in 1997. It produces emission control technologies for automotive and motorcycle applications, mainly for the Indian domestic market.


By: Stefan Baumgarten
+1 713 525 2653



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