Mitsubishi Chemical said it will acquire the polyvinyl chloride (PVC) composites business of Welset Plast Extrusions in Mumbai, India, and the two sides have reached an agreement on this, and it is expected to complete the transaction this fall.
Welset's PVC composites business has a leading market share in the Indian healthcare sector and has a solid market base in India and ASEAN markets. Mitsubishi Chemical is principally engaged in the production and sale of thermoplastic elastomers in India and is expanding automotive applications such as airbag materials. Business in this area. This acquisition will enable Mitsubishi Chemical to enter the Indian medical PVC composites sector and further leverage Welset's marketing channels and infrastructure to strengthen its PVC and thermoplastic elastomer business strengths in India and ASEAN markets.