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Akzo Nobel Chemicals (India) Ltd, an ISO 9001:2000 certified company, is a major supplier to the Indian polymer chemicals industry for the last decade, is a joint venture between Akzo Nobel chemicals of the Netherlands and the B.K. Birla Groupâ€™s Century Enka Limited and Century Textiles and Industries Limited.
Akzo Nobel N.V. of Netherlands, a leading player in the global specialty chemicals industry, held 40 per cent of the companyâ€™s equity
Akzo Nobel N.V. of Netherlands, a leading player in the global specialty chemicals industry, held 40 per cent of the companyâ€™s equity capital. The B.K. Birla group holds and owns 35 per cent of the companyâ€™s equity. Formerly known as Centak Chemicals, the name was changed with the acquisition of 95.85 per cent of its shares by Akzo Nobel, making it a subsidiary company of Akzo Nobel Chemicals International B V of the Netherlands.
The parent company, Akzo Nobel Chemicals, Netherlands, is the worldâ€™s leading player in the chemicals (surfactants, polymerisation chemicals, and paper chemicals), coatings (strengthened by the acquisition of Courtaulds plc), and healthcare businesses (reinforced by the acquisition of veterinary business of Hoechst AG).
The company has a comprehensive range of 100 per cent active additives compatible with many differing polymer types and suitable for use in food contact applications.
Akzo Nobel is the world`s largest supplier of process chemicals for the viscose industry and, during the 1970s, its products were used throughout the entire Indian viscose industry. But then import restrictions and sky-high customs tariffs made selling to and setting up shop in India virtually impossibility. However, India`s economic development has recently picked up steam-especially concerning foreign trade-and customs tariffs are down considerably from just a few years ago.
The securities of Centak Chemicals (now known as Akzo Nobel) have been struck-off (delisted) from the list of Officially Quoted Securities with effect from November 8, 2002. The acquirers, Akzo Noble Chemicals, Netherlands, have provided an exit option to the existing shareholders at Rs 200 per share at any time during one year from the date of delisting. The shareholders who desire to opt for the exit option will have to send their shares.
Akzo Nobel divested its fibre business to Acordis, a new entity. It has also discontinued manufacturing of viscose chemicals on job contract basis. Recently, Akzo Nobel has divested its fibre business to Acordis, a new entity. . It has also discontinued manufacturing of viscose chemicals on job contract basis.
Akzo Nobel`s management foresees business growth on the back of significant expansion plans by major viscose producers.
The company plans to introduce new products and increase revenues from agency business. And it is also planning to deploy additional surplus funds in profitable investment avenues and undertaking various steps to reduce its interest outgo to further improve its profitability.
The strong technical support and higher operating efficiency is likely to enable the company to maintain its operating margins in the future. The company is all set to take advantage of the demand for PVC, as the demand for PVC is expected to grow moderately over the medium term future. Most of the increase in domestic demand is likely to be met through increased domestic production, leading to higher demand for organic-peroxides.