Mitsubishi Chemical Corporation (MCC) has completed its acquisition of the PVC compound business of Welset Plast Extrusions Private Limited in India. Plans now call for construction a new facility to manufacture thermoplastic elastomer for automotive interior components and other applications at subsidiary MCPP India Private Limited. Production is scheduled to begin by the end of March 2020.
|MCC’s acquisition of the PVC compounds business of Welset augments its foothold in the Indian market for auto applications, among others.|
MCC acquired Arparn Plast Compound Private Limited (representing the PVC compound business of Welset) after a demerger from Welset Plast Extrusions, and changed 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 thermoplastic elastomers in India. The acquisition of Welset Plast Extrusions’ PVC compound business, and the construction of the new production facility, will allow MCC to upgrade its performance polymer supply system to meet the increasing demand. For its part, Welset will focus on development and expansion of its masterbatches business.
MCC has proactively pursued mergers and acquisitions and investment in the performance polymer business, expanding globally in regions such as Asia Pacific, Europe, and North America. Currently its network includes 28 locations in 16 countries, and MCC positions MCPP India as its Asia Pacific medical PVC compound manufacturing site. In addition, it will accelerate further global development by expanding the scale of manufacturing of its thermoplastic elastomers for automobiles.