Clariant and IGL of India create a renewable ethylene oxide derivative joint venture
On July 1, Clariant, a Swiss specialty chemicals company, announced the creation of a renewable ethylene oxide (EO) derivative joint venture with India Glycol Limited (IGL). The joint venture will operate under the name Clariant IGL Specialty Chemicals Pte Ltd.
The joint venture was originally announced in March 2021 and is now effective. It merges IGL's renewable bio-ethylene oxide derivatives business with Clariant's local industrial and consumer products business in India, Sri Lanka, Bangladesh and Nepal.
Clariant will fully integrate the joint venture on July 1, 2021, and it is expected that by the 2021 fiscal year, revenue from the care chemicals business will increase by approximately 50 million Swiss francs.
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