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Oxygen shortage forces stop at Hikal

Indian fine chemical and API firm Hikal has halted production of an unnamed product from its Crop Protection division at Taloja, near Mumbai, due to the current non-availability of industrial oxygen.

The company said that it anticipates an impact on sales of the product in question. It has kept customers informed and will work with them to make up for the shortfall in delivery in the coming quarters. Production will be ramped back up when industrial oxygen is available again.

Azelis buys two in India

Azelis has acquired Spectrum Chemicals and Nortons Exim in India from the Mehta family on undisclosed terms. Both specialise in the distribution of speciality chemicals for home care, road markings, agrochemicals and other applications. Current owner Parindu Mehta will remain at the helm.

Renewable glycols JV in India

Clariant has agreed a strategic partnership to establish a 51-49% joint venture with India Glycols (IGL) in renewable ethylene oxide (EO) derivatives, subject to regulatory approvals. U.S. Bhartia has been designated chairman of the JV, which will employ about 200 people in India.

Carlyle Group invests in Piramal

Via CA Clover Intermediate II Investments, private equity firm the Carlyle Group is to invest about $940 million in fresh equity capital for a 20% stake in Piramal Pharma, the healthcare subsidiary of Indian conglomerate Piramal Enterprises (PEL). This values the business at $2,775 million with an upside component of up to $360 million depending on the company’s performance this financial year.

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