Bharadwaj confident in the resilience of Asia-Pacific and African markets
Alphagary, a division of Orbia’s Polymer Solutions business group of the United States, is expanding its product and regional footprints with the acquisition of a majority share in Shakun Polymers Private Limited, a privately held and family-owned market leader in the production of compounds for the wire and cable markets in the Indian subcontinent, the Middle East, Southeast Asia and Africa.
“This investment provides us with a local presence, a wider scope for future-focused development and a strong customer base for our products and services that help to advance life around the world,” Sameer Bharadwaj, CEO of Orbia, said on 13 May 2021 in announcing the deal.
“Even as India faces difficulty with the current pandemic, we are confident in the resilience of the Asia-Pacific and African markets and long-term growth coming from these regions. We welcome Shakun to the Orbia family and look forward to their immediate contributions to our success together,” he said.
Shakun will continue to provide next-generation materials designed to meet the high safety and performance standards in Asia and Africa’s markets, Alphagary said in a release.
As a direct complement to Alphagary’s specialty product offerings that support a connected world, Shakun’s product development focus is on halogen-free, flame-retardant compounds and PVC-based compounds for data and power cables. In addition, Shakun’s semi-conductive and cross-linkable compounds expand Alphagary’s portfolio, offer a growth platform and meet customer requirements.
Key members of the Shakun management team will remain with the business, underlining the commitment of both organizations to create added value for customers and stakeholders.
Said Rakesh Bansal, Joint Managing Director of Shakun, “We are very excited by Alphagary’s investment in Shakun and the opportunity it creates to deliver on our customers’ requirements. I am delighted to be part of a team that will work together to offer a wider portfolio of materials and more efficient supply chains that help us focus on service.”
“Shakun has rapidly built a significant market position by providing quality materials geared toward meeting customer needs in Asia and Africa,” said Gautam Nivarthy, President of Alphagary.
“While Alphagary has a broad reach from its facilities in the United States, Europe and Mexico, the addition of Shakun’s market position in Asia and Africa coupled with the team’s entrepreneurial spirit will enable us to broaden our innovation horizons,” Nivarthy elaborated on the deal.
Alphagary (Mexichem Specialty Compounds) is a global leader in the design and manufacture of innovative compound blends and alloys from a diverse range of polymers including PVC, TPE, Olefin, and Urethane.
Orbia is a community of companies united by a shared purpose: to advance life around the world. The Orbia companies have a collective focus on reinventing the future of cities and homes, ensuring food security, reducing water scarcity, connecting communities to data infrastructure and expanding access to health and wellness with advanced materials.
Shakun Polymers Private Limited is one of the leading players in the field of compounding for the wire and cable industry. Shakun’s specialty compounds have applications across a wide spectrum, including power cables, building wires, telecommunications and fiberoptic cables, instrumentation cables and photovoltaic cables. Shakun has four manufacturing facilities in India, a total installed capacity of more than 40,000 MT and has invested in modern machinery, equipment and efficient manufacturing processes for leading product quality. #investment #manufacturing #technology #exports /fiinews.com
