11 April 2013 08:37 [Source: ICIS news]
SINGAPORE (ICIS)--French chemicals maker Arkema said on Thursday it has reached an agreement with Jayant Agro to purchase a 25% stake in the India-based castor oil producer’s subsidiary, Ihsedu Agrochem, for an undisclosed fee.
The joint venture agreement between Arkema and Jayant Agro aims to develop castor oil production in order to provide the French firm with long-term secure and competitive access to castor oil, a feedstock for the manufacture of its bio-sourced polyamides.
The joint venture should be finalised in the third quarter of this year, according to Arkema.
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