DIC aquires Indian resins manufacturer
DIC has acquired the mid-tier Indian resins manufacturer Ideal Chemi Plast. The company thus intends to expand its position on the Indian market.
Ideal Chemi Plast produces and sells acrylic, alkyd, polyester and other resins for use in, among others, automotive refinish, coil and wood coatings. With the aim of collaborating with a company that is familiar with the promising Indian coating resins market to facilitate full-scale market entry, DIC conducted extensive discussions with Ideal Chemi Plast.
India as part of DIC’s expansion strategy
Ideal Chemi Plast’s know-how and supply chain in India were regarded to swiftly elevate DIC’s position in the Indian market. The DIC Group’s management plan is to promote the globalisation of its performance materials business, and has a regional strategy of expanding production bases in South Asia. Therefore the group wants to position India as an important area for accelerating global development.
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