Mitsubishi Chemical Corporation (MCC), headquartered at Chiyoda-ku, Tokyo has made an agreement to take over the PVC compound business of Welset Plast Extrusions Pvt. Ltd., headquartered at Mumbai, India.
Welset, headed under Arvind M. Mehta, Chairman, and Managing Director, is engaged in master batch (including PVC masterbatch) and PVC compound businesses in India and other areas. Its plant is located at Silvassa, India. The main applications of the Welset Plast Extrusion include medical supplies and devices, electrical wires and cables, and others. As of June 1, 2018, the company employed about 100 people. Welset’s PVC compound business is an established business with a solid foundation in India and ASEAN markets as it has a major market share of the Indian medical field. MCC has finalized an agreement with the Welset for the takeover of the PVC compound business which will be executed in autumn this year. Manufacturing and selling thermoplastic elastomers in India, MCC is keen to expand its business in the automotive application, mainly for airbag covers.
MCC will be able to enter in the medical PVC compound business in India with the takeover of Welset’s business. In addition, MCC utilizing Welset’s marketing channels and infrastructure will improve its existing PVC and thermoplastic elastomers businesses in India and ASEAN markets.
Diversification of its application portfolio and accelerating business development in growth markets, MCC will expand its performance polymers business and continue to grow. ,
Mitsubishi Chemical Corporation, founded in 1933, deals in performance products, industrial materials, and others. As of March 31, 2018, MCC employed 40,290 employees and had sales revenue of JPY 2,548.1 billion in 2017.