BRUSSELS, Belgium – Solvay, Brussels, Belgium, has closed the acquisition of a controlling interest in Sunshield Chemicals Limited, an Indian surfactants producer. The purchase 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,” explained Emmanuel Butstraen, President of Novecare.
Sunshield Chemicals Limited produces and exports surfactants, cross-linkers and antioxidants. With a production site near Mumbai, the company serves the agrochemicals, coatings, industrial applications, home and personal care markets.