13 September 2012
Details
Solvay has signed an agreement to
acquire a controlling interest in
Sunshield Chemicals,
an indian company specializing in surfactants,
from Amit Choksey Group.
The price of the acquisition results in a Enterprise Value
multiple below 9x the estimated adjusted EBITDA for the current year.
The operation,
subject to fulfillment of customary conditions and agreements,
is expected to be concluded within a period of about three months.
www.chemwinfo.com by Khun Phichai
About Sunshield Chemicals
- The company is listed on the Bombay Stock Exchange (BSE)
- generated net sales of INR 943 million (EUR 13.5 million)
in most recent financial year ended March 31, 2012.
- The acquisition transaction enables Amit Choksey Group to
focus more on their other activities in the field of
pigments an other related products.
- Sunshield Chemicals produces and exports
* surfactants
* cross-linker and
* antioxidants.
- Production sites is located near Mumbai.
- Sunshield Chemicals serves a large number of markets for
various applications in
* agrochemicals * textiles
* coatings * lubricants
* plastics * metal treatment
* home and personal care products
www.chemwinfo.com by Khun Phichai
Benefit to Solvay's Novecare Business
The acquisition will enable Solvay's Novecare business to
accelarate growth plans in India for
* home and personal care,
* agrochemicals,
* coatings and
* industrial applications market.
This bolt-on acquistion will enable Solvay to speed up
the pace of growth in the Indian surfactants market that
is currently enjoying double-digit annual growth.
The aim is
to further consolidate Solvay's leading positions
in specialty surfactants in Asia and
to support customers' development in this part of the World.
www.chemwinfo.com by Khun Phichai
Activities of Solvay Group in India
The acquisition follows the opening of a major
innovation center in Savli (Gujarat State, India) and
further reinforces the Group's presence and commitment in India
Solvay is determined to double its sales in India by 2015.
Solvay group has been doing business in India since 2000 through
* Novecare,
* Engineering Plastics and Specialty Polymers activities.
With seven production sites and about 900 empolyees.
Solvay group generated of
net sales of 180 million euros in india in 2011
www.chemwinfo.com by Khun Phichai
