Clariant IGL Specialty Chemicals successfully launched

Clariant and India Glycols Limited (IGL) announced the successful creation of Clariant IGL Specialty Chemicals Private Limited, their 51-49% joint venture for renewable ethylene oxide (EO) derivatives, after receiving all necessary regulatory approvals.

“The successful closing of this joint venture strengthens our core portfolio and makes Clariant one of the leaders in green ethylene oxide derivatives. As part of our strategy, we are committed to adding value through sustainability. Our partnership with India Glycols will make us one of the leading surfactant suppliers in India, with a focus on renewable solutions for home and personal care”, said Conrad Keijzer, CEO of Clariant.

Originally announced in March 2021, the joint venture is now effective and combines IGL’s renewable bio-ethylene oxide derivatives business, which includes a multipurpose production facility including an alkoxylation plant located in Kashipur, Uttarakhand (India), with Clariant’s local Industrial and Consumer Specialties business in India, Sri Lanka, Bangladesh and Nepal. This combination is to become one of the leaders in green ethylene oxide derivatives and be a leading supplier of these renewable materials to the rapidly growing consumer care market in India and neighboring countries.

Clariant will fully consolidate the joint venture as of July 1, 2021 and expects an incremental addition to the top-line of the Business Area Care Chemicals in the range of around CHF50 million (USD54 million) for the FY 2021.

“I am very pleased with the swift manner in which both parties were able to obtain all necessary regulatory approvals. This allows us to now move ahead and leverage IGL’s position as the largest manufacturer of green EO in the world in a value-generating combination with Clariant,” said U.S. Bhartia, chairman of India Glycols Limited.

“We experience a growing demand among our customers for home and personal care applications based on renewables. With the joint venture officially established, we will press ahead to fulfill this with innovative, sustainable and high-quality solutions based on the unique capabilities of both partners,” added Christian Vang, global head of Clariant’s Business Unit Industrial & Consumer Specialties.

The joint venture will be led by Nitin Sharma, currently head of Clariant’s Industrial and Consumer Specialties business in South Asia.

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