First announced in June 2018, the acquisition of the PVC compound business of Welset Plast Extrusions Private Ltd. will allow Mitsubishi to enter the medical PVC compound business and strengthen its existing PVC and thermoplastic elastomers businesses in India.
March 31, 2019 by Canadian Plastics
Mitsubishi Chemical Corp. (MCC) has completed its acquisition of the PVC compound business of Welset Plast Extrusions Private Ltd.
First announced in June 2018, the acquisition will allow MCC to enter the medical PVC compound business. Furthermore, MCC will strengthen its existing PVC and thermoplastic elastomers businesses in India – where Welset is headquartered – and Association of Southeast Asian Nations (ASEAN) markets by utilizing Welset’s marketing channels and infrastructure.
Plans now call for construction a new facility to manufacture thermoplastic elastomer for automotive interior components and other applications at subsidiary MCPP India Private Ltd. Production is scheduled to begin by the end of March 2020.
MCC acquired Arparn Plast Compound Private Ltd. (representing the PVC compound business of Welset) after a demerger from Welset Plast Extrusions, and changed its name to MCPP India Private Ltd. after the acquisition was formally completed.
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.