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Rossari acquires Tristar too

Flush with funds from its IPO, Indian speciality chemicals manufacturer Rossari is to make its second acquisition of in as many months. Following on from the $57.7 million acquisition of Unitop Chemicals in June, it has agreed to acquire Tristar Intermediates in two tranches of 76% now and 24% in three years’ time. The total enterprise value of the transaction is $16 million. Tristar’s current management will stay on for at least three years.

Feature article - Growth in Gujarat

Anupam Rasayan has made a splash in the news with its recent IPO and a major new deal. We spoke with some of the senior executives

The first half of 2021 has seen some major developments in the 44-year history of Indian speciality chemicals company Anupam Rasayan. The company launched an IPO and subsequently announced a major new contract with an unnamed multinational customer.

Ten dead from Indian chemical explosion

A blast that occurred in a boiler of agrochemicals company Yashashvi Rasayan’s factory at the Dahej Special Economic Zone-1 in Gujarat state on 3 June has caused ten deaths and over 70 injuries to date. All are believed to be contract workers at the site, mainly migrants from other regions of India. Eight were killed immediately and two have since died.

Castor bean projected extended

Arkema, BASF, Jayant Agro-Organics, an Indian castor oil specialist, and civil society body Solidaridad are to extend their ongoing Pragati project in sustainable castor bean production for a further three years in order to reach more Indian farmers and end users. In particular, it aims to double the number of farmers participating in India’s Gujarat state to 7,000.

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