Mitsubishi Chemical Signs Agreement to Acquire PVC Compound Business of Welset Plast Extrusions Private Limited in India
Mitsubishi Chemical Corporation
Mitsubishi Chemical Corporation (“MCC”; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga) is pleased to announce an agreement under which MCC will acquire the PVC compound business of Welset Plast Extrusions Pvt. Ltd. (“Welset”; Head office: Mumbai, India; CMD Arvind M. Mehta).
Welset is engaged in master batch (including PVC master batch) and PVC compound businesses in India and other areas. MCC has reached an agreement with the company for the acquisition of the PVC compound business which will be carried out in the autumn of this year.
Welset’s PVC compound business has a solid foundation in India and ASEAN markets as it holds the leading market share in India’ s medical field. MCC, meanwhile, manufactures and sells thermoplastic elastomers in India and is expanding its business in the automotive application, mainly for airbag covers.
The acquisition will allow MCC to enter the medical PVC compound business. Furthermore, MCC will strengthen its existing PVC and thermoplastic elastomers businesses in India and ASEAN markets by utilizing Welset’s marketing channels and infrastructure.
MCC will continue to grow its performance polymers business thorough diversifying its application portfolio and accelerating business development in growth markets.
Outline of PVC compound business to be acquired by MCC
1. Business: PVC compound business owned by Welset
2. Major applications: Medical supplies and devices, electrical wires and cables, and others
3. Location, Silvassa (plant) in India
4. Employees: Approximately 100 (as of June 1, 2018)
For further information, please contact:
Public Relations and Investor Relations Office,
Mitsubishi Chemical Holdings Corporation
Tel: [+81] (0)3-6748-7140