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Solvay has acquired Sunshield Chemicals Ltd., an Indian surfactants producer. The aquisition, which is still subject to regulatory requirements, enables Solvay's Novecare business to accelerate its development in India for the home and personal care, agrochemicals, coatings and industrial markets.
"We are now better geared to increase our market position in the Indian market that is currently enjoying double-digit annual growth," explains Emmanuel Butstraen, president of Novecare, in a company press release. "This additional bolt-on acquisition further consolidates our leading positions in specialty surfactants in Asia and we are well-equipped to support our customers' development in this part of the world."