Arkema to acquire 25 pc stake in Jayant Agro Organics

MUMBAI, INDIA/COLOMBES, FRANCE: Castor oil producer Jayant Agro Organics announced a joint venture with France-based chemical firm Arkema by divesting 25 per cent stake in its subsidiary for an undisclosed amount. Jayant Agro said it has entered into an agreement with Arkema to form a strategic joint venture through its subsidiary Ihsedu Agrochem Pvt Ltd (Ihsedu).

According to Arkema, the JV is in line with Arkema’s strategy to secure the supply of a key raw material in order to support the development of its bio-sourced speciality polyamides in fast growing applications, such as innovative materials for lighter vehicles and oil & gas extraction.

According to a statement posted on Arkema’s website, “the joint venture aims to develop castor oil production in order to provide Arkema with long-term secure and competitive access to this strategic raw material for the manufacture of its biosourced polyamides.”

© PTI News