Solvay signs agreement to acquire innovative specialty polymers business from Gharda (India)
New R&D, manufacturing unit in India for global development and production
The Polymers Division of Gharda Chemicals operates a state-of-the-art R&D center and production plant in Panoli, Gujarat State, with about 180 employees with revenues slightly over USD 10 million. The acquisition will provide the Solvay Specialty Polymers Strategic Business Unit with its first industrial base in India. Solvay plans to combine the acquisition into its Solvay Advanced Polymers, L.L.C. operating unit headquartered in Alpharetta, Georgia and intends to invest in this strategic location to develop it into a global center for the development and production of specialty polymers and other innovative materials. As a first step in this direction, Solvay will make investments to expand PEEK production at the Panoli site as part of a broader plan to establish a strong market position for Solvay in this ultra-high performance polymer.
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