SI Group finalises sale of Indian unit to ION Chemicals
On April 28, SI Group announced the finalisation of the sale of its Navi Mumbai, India, manufacturing site to ION Chemicals. ION Chemicals will immediately assume responsibility for manufacturing at the site, with the transfer of ownership including the Navi Mumbai site assets and most employees, to sustain manufacturing operations.
Despite the sale of the Indian location, David Bradley, president and CEO of SI Group, says it “remains invested in the India market.” SI Group is a performance additives and intermediates business that has been recognised for its extensive portfolio of specialty additives. The company is the world’s largest producer of liquid phosphites, specialty antioxidants and additives in non-dust forms.
SI Group – India Private Limited has operated in India for almost 60 years after it was publicly incorporated on July 1, 1963. “This is a strategic growth region for our plastics, rubber and adhesives and industrial solutions, and we look forward to the investments we are making and continuing to support all customers,” said Bradley.
The company continues to own and operate two manufacturing sites in India, including Lote and Rasal. The announcement also confirmed the company’s intention to retain employees in Navi Mumbai to support ongoing commercial needs in the area.
SI Group’s global manufacturing footprint includes 20 facilities on three continents, serving customers in 80 countries with 2,000 employees worldwide.