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Mergers & Acquisitions

DSM and DIC look to India for growth

by Marc S. Reisch
May 18, 2019 | A version of this story appeared in Volume 97, Issue 20
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A photo of the SRF facility in India.
Credit: DSM
SRF's main specialty material operations are at this facility in Pantnagar, India.

DSM and DIC have each made acquisitions to fortify their positions in the growing India market. DSM has agreed to acquire the engineering plastic operations of India’s SRF for $45 million. With annual sales of $37 million, the business makes polymer compounds for the auto and electrical industries. Separately, Japan’s DIC has acquired India’s Ideal Chemi Plast, which brings acrylic, alkyd, and other resins used in coatings. DIC says the acquisition will allow it to realize its expansion strategy in South Asia.

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