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Mitsubishi expanding Indian footprint with PVC business
acquisition
Japan’s Mitsubishi Chemical Corp. (MCC) is acquiring the PVC compound business
of WelsetPlast Extrusions Pvt. Ltd, a Mumbai, India-based plastics specialist.
Welset currently has two masterbatch and PVC compounds businesses and MCC
expects the acquisition of the PVC business to be completed by the fourth
quarter of this year.
According to Tokyo-based MCC, Welset’s PVC compound business has a “leading”
market share in India’s medical segment, and a solid presence in the ASEAN
markets in general.
The Japanese supplier is already active in the Indian market, manufacturing and
supplying thermoplastic elastomers in India.
The company has indicated that it is also expanding its TPE business for
automotive applications in India, focussing mainly on airbag covers.
With the acquisition, MCC expects to find a foothold in the medical PVC compound
business, while improving its existing PVC and thermoplastic elastomers
businesses in India and ASEAN markets.
The acquired business has a production plant in Silvassa, west India, and
manufactures medical devices, electrical wires and cables. As of 1 June, the
plant has 100 employees.
(http://www.plasticsnewseurope.com, 26 June 2018)
Covestro Strengthens its Global Film Production
Covestro intends to expand its global production capacities for special films,
to meet the growing demand in all regions.
The company plans capacity expansions at its site at Map Ta Phut, Thailand,
Guangzhou, China, South Deerfield, USA, and Dormagen, Germany.
More so, Covestro will invest more than •100 million to expand any associated
infrastructure and logistics. Current plans are anticipated to create over 100
jobs across the world for the operation of the new plants.
Speaking about the plans, Dr Markus Steilemann, CEO of Covestro, said: “With
this capacity expansion, we are investing in promising technologies and
applications. The innovative hightech materials offer solutions for future
challenges and deliver their contribution to making the world a brighter place."
"We want to expand our global film production as quickly as possible to meet the
growing demand in the regions," explains Michael Friede, global head of the
Coatings, Adhesives and Specialties segment. "With modern and efficient
production facilities, we want to offer our customers growth opportunities and
strengthen them in their competitive environment."
At the Guangzhou site in China, Covestro’s focus will initially be on converting
the existing coextrusion line. New capacities are expected to be available by
the middle of 2019 with a second phase already planning to be scheduled.
Dr Thorsten Dreier, global head of the Specialty Films business, said: “With
these expansions we create the conditions to meet customer requirements more
flexibly and quickly. Our tailor-made products enable versatile applications in
various industries.”
(https://www.medicalplasticsnews.com, 20 July 2018 )
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