Time Technoplast Acquires Plastic Product Unit of Solutia Inc
Time Technoplast Ltd has acquired plastic product division of Solutia Inc. in Europe.
Through this acquisition, Time Technoplast gets proprietary technology of high tech products including brands like 'Astro Turf' and 'Clear Pass' in the space of entrance mattings, artificial turf for indoor and outdoor application, mats for pet care, incubator and spray suppression, etc in global markets except North America.
It has acquired a fully operational state-of-art production facility in Romania, marketing and distribution set up head quartered at Brussels and distribution network across the world.
Transaction Reference: Myiris
Time Techno operates through 5 strategic business units viz, industrial packaging, auto components, lifestyle, healthcare & infrastructure products. It has 21 manufacturing units across India, UAE, Thailand, Poland, Bahrain and Czech Republic.
Time Technoplast's consolidated net profit rose 31.5% to Rs.26.90 Cr on 19.2% increase in net sales to Rs.248.10 Cr in Q1 June 2010 over Q1 June 2009.
Founded in 1901, Solutia Inc. is engaged in manufacturing and marketing of various chemical and engineered materials used in the consumer and industrial applications.
Solutia Inc operates in three segments: Saflex, CPFilms, and Technical Specialties. Saflex segment produces polyvinyl butyral (PVB) sheet, a plastic interlayer. CPFilms segment offers solar control and security window films for aftermarket automotive and architectural applications while Technical Specialties segment provides chemicals for the rubber, solar energy, process manufacturing, and aviation industries.
Headquartered in St. Louis, Missouri, US, Solutia has approximately 3,300 employees in more than 50 worldwide locations with an annual revenue of approximate $1.6 bn.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 20/08/10 | Solutia Inc (Plastic Division) - Time Technoplast | M&A | Time Technoplast Limited | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | Looking For | VRL Cement Limited | - | Planned |
| 03/02/12 | Private Equity | Emerging Markets Management LLC | Sintex Industries Limited | 2.97 | Completed |
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| 16/01/12 | M&A | Dalmia Bharat Sugar and Industries Limited (Dalmia Cement Bharat Ltd) | Calcom Cement India Limited | 46.03 | Announced |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Time Technoplast Limited | Anil B Jain | Office No. 213, Sabariapartment, Building No. 1, Survey No. 387,Dungri Falia, Kachigam Daman UT - 396210 Daman and Diu |
Essel Propack Limited | www.timetechnoplast.com |
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