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Mitsubishi Chemical Corporation has completed its acquisition of the PVC compound business of Welset Plast Extrusions Private Limited in India.
Mitsubishi Chemical Corporation has completed its acquisition of the PVC compound business of Welset Plast Extrusions Private Limited in India.

Mitsubishi Chemical Corporation (MCC) announced that it has completed its acquisition of the PVC compound business of Welset Plast Extrusions Private Limited in India and planned to construct a new facility to manufacture thermoplastic elastomer (TPE) for automotive interior components and other products. Production is scheduled to begin by the end of fiscal 2019.

MCC acquired Arparn Plast Compound Private Limited (PVC compound business) after a demerger from Welset Plast Extrusions Private Limited, and will change its name to MCPP India Private Limited after the acquisition was formally completed.

Applications for MCC’s performance polymer products continue to expand in India’s automotive industry, and growth is expected to remain steady in the future. MCC currently outsources the manufacturing of TPEs in India.

Welset is engaged in master batch (including PVC master batch) and PVC compound businesses. Welset’s PVC compound business has a solid foundation in India and ASEAN markets as it holds the leading market share in India’s medical field. MCC, meanwhile, manufactures and sells TPEs in India and is expanding its business in the automotive application, mainly for airbag covers.

The acquisition allows MCC to enter the medical PVC compound business. Furthermore, MCC will strengthen its existing PVC and TPEs businesses in India and ASEAN markets by utilizing Welset’s marketing channels and infrastructure.

MCC will continue to grow its performance polymers business thorough diversifying its application portfolio and accelerating business development in growth markets.

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