Punjab Chemicals has global plans
The company recently completed two acquisitions, one each in Argentina and the Netherlands, to consolidate its position in North America, Latin America and Central and East Europe. The firm manufactures basic chemicals for industrial use and active ingredients used in crop protection products like insecticides, herbicides and fungicides.
The managing director of the company, Salil Shroff, said there was a tremendous scope for industrial and agro-chemicals in the global and domestic market. The company has a strong base in India with five locations (two in Punjab and three in Maharashtra). We acquired overseas companies to consolidate our position in the global market, he said.
A total investment of 46.5 million euro was made in the two acquisitions. The company would launch four new products for domestic and global market simultaneously that would contribute over Rs 200 crore to the sales revenue of the company in the next 2-3 years.
With current market share of 10-12 percent, Punjab Chemicals envisages to grab about 25 per cent of the market share in the next three years. Shroff added that the global acquisitions of the profit-making companies would give them an access to the state-of-the-art R&D to expand their business. With a turnover of Rs 326 crore, the company expects to register a turnover of Rs 550 crore and 75 per cent of the business would be undertaken in the international market.
