Clariant and India Glycols Limited successfully created a 51-49% joint venture, Clariant IGL Specialty Chemicals Private Limited, combining IGL's renewable bio-ethylene oxide derivatives business with Clariant's local Industrial and Consumer Specialties business in India, Sri Lanka, Bangladesh and Nepal.
India Glycols has approved selling a 51% stake in its specialty chemicals business to Clariant International. The business will be transferred to a wholly-owned subsidiary, IGL Green Chemicals, and then 51% will be sold to Clariant. The announcement was made on March 12, 2021.
Clariant and India Glycols Limited announced a strategic partnership to establish a 51-49% joint venture in renewable ethylene oxide derivatives. India Glycols will contribute its renewable Bio-EO Derivative business, including a multipurpose production facility in India.