Clariant and INDIA GLYCOLS form joint venture for renewable ethylene oxide derivatives

On July 1, 2021, Clariant announced the creation of a renewable ethylene oxide (EO) derivatives joint venture with India Glycol Limited (IGL)
.
The joint venture will operate under the name Clariant IGL Specialty Chemicals Pte
Ltd.

Clariant CEO Conrad Keijzer said: "The successful closure of this joint venture strengthens our core product portfolio and positions Clariant as 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 position us as one of India's leading surfactant suppliers, focusing on renewable solutions for home and personal care
.
"

Originally announced in March 2021, the joint venture is now effective and will combine IGL's renewable bio-ethylene oxide derivatives business (including multifunctional production facilities such as the alkoxylation plant in Kashipur, Uttarakhand, India) ) with Clariant's local industrial and consumer products businesses in India, Sri Lanka, Bangladesh and Nepal
.
This combination will be one of the leaders in green ethylene oxide derivatives and a leading supplier of these renewable materials serving the fast-growing consumer care market in India and neighbouring countries
.

Clariant will fully integrate the joint venture on July 1, 2021, and expects to increase revenue in the Care Chemicals business area by around CHF 50 million in fiscal 2021
.

“I am very pleased that both parties were able to quickly obtain all necessary regulatory approvals
.
This allows us to now move forward and leverage IGL’s position as the world’s largest green EO manufacturer for value creation with Clariant,” India Glycols Limited Chairman US Bhartia commented
.

Christian Vang, Global Head of Clariant's Industrial & Specialty Consumer Products business unit, added: "Our customers have growing demand for renewable energy-based home and personal care applications
.
With the formal establishment of the joint venture, we will build on the unique capabilities of both parties.
, continue to advance this goal through innovative, sustainable and high-quality solutions
.
”

The joint venture will be led by Nitin Sharma, currently head of Clariant’s South Asia Industrial and Consumer Goods business, who added: “Achieving profitable growth through sustainability is a key goal for all of us in this newly formed company
.
The entire team will work together Efforts to leverage both parties' contributions to the joint venture to develop innovative solutions to serve the growing market around us
.
"

It is understood that Mr US Bhartia is the chairman of the joint venture, which employs around 200 people
.
To support production, India Glycols has agreed to sign a long-term supply agreement for ethylene oxide made from bioethanol as well as other utilities
.