SINGAPORE (ICIS)--Clariant Chemicals (India) announced on Monday that it plans to acquire Gujarat-based masterbatch producer Plastichemix Industries for rupees (Rs) 1.35bn ($21.7m).
Plastichemix has production facilities in Rania, Kalol and Nandesari.
The acquisition is expected to be closed in the first quarter of next year, Clariant Chemicals said in a statement.
Plastichemix Industries is a leading supplier of black, white, additive, filler & colour masterbatches, flushed pigments & mono-concentrates and engineering plastics compounds, it said.
After the acquisition, Clariant Chemicals (India) said it will be the largest specialty masterbatches business producer in the country.
($1 = Rs62.16)