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Ho Chi Minh City, Vietnam
Global leather chemical manufacturer Stahl has announced the acquisition of an India based leather chemicals business to strengthen its position in the region.
Stahl has acquired the leather chemical business of Mumbai based Viswaat Chemicals Ltd, which manufactures specialty chemicals for a broad range of industries through constant and innovative R&D backed by a strong social commitment.
Viswaat will produce syntans, fatliquors and beamhouse solutions aimed at the leather industry exclusively for Stahl. The acquisition enables Stahl to strengthen its position in leather chemicals in the IPB region (India, Pakistan and Bangladesh).
“In the last few years, we have completed some exciting technology acquisitions and partnerships to become market leader in leather chemicals in terms of knowledge, expertise and range of technical solutions. By taking over the leather chemicals business of Viswaat, we can serve our clients in the IPB region even better with more
innovative specialty chemicals,” said Huub van Beijeren, CEO, Stahl.
According to Stahl, the acquisition is directly linked to its sustainability goals of creating a more transparent supply chain since both companies share the same vision on how to improve the environmental footprint linked to their activities. Viswaat is to provide full R&D support to Stahl as well as new, innovative products which comply with REACH regulation and Global Regulatory.
Viswaat produces various specialty chemicals for a broad range of industries such as leather, textile, paper, agro, construction, cosmetics and personal care, inks, paints, and pharmaceuticals. Through its strong focus on R&D, it has established a robust portfolio of products to cater for both the Indian and global markets.
“By combining forces, we aim at strengthening our competitive position in India and Pakistan and expand our share in Bangladesh”, said Tuncay Deriner, Managing Director for Stahl India & IPB Region.