Material supplier Alphagary buys majority stake in Indian compounder Shakun
Shakun is family-owned producer of compounds for the wire and cable markets in the Indian subcontinent, the Middle East, Southeast Asia, and Africa.
Specialty material supplier Alphagary has acquired a majority stake in Shakun Polymers Pvt. Ltd., an India-based compounder for the wire and cables market.
The financial terms of the deal have not been disclosed.
Shakun is a family-owned firm, and supplies compounds in the Indian subcontinent, the Middle East, Southeast Asia, and Africa.
“With [this] investment, Alphagary is expanding its product and regional footprints as Shakun will continue to provide next-generation materials designed to meet the high safety and performance standards in Asia and Africa’s markets,” Alphagary officials said in a May 13 news release. “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, the news release added.
Headquartered in Leominster, Mass., Alphagary is a division of materials firm Orbia’s Polymer Solutions business group. The group was formed when Mexichem (now Orbia) purchased Alphagary and joined it with Bayshore Vinyl Compounds. In 2016, Vinyl Compounds Ltd. in the UK was added, and in 2018, Sylvin Technologies, in the U.S., was acquired. Together with heritage compound assets in Mexico and Colombia, the Alphagary group operates from eight facilities in the U.S., UK, Mexico, and Colombia.