Subject to necessary regulatory and statutory approvals, the acquisition will enable Clariant India to offer a wider sun, skin, hair and oral care range as well as anti-microbial preservatives as it strives to expand its footprint in the region.
According to Stephen Lynen, Head ICS, Asia Pacific, the move represents an 'important step' towards boosting Clarirant's presence in Asia and will strengthen its ability to formulate broader solutions such as sun protection in India.
“The personal care industry in India offers us immense potential, supported by the growing middle-class consumer population and the rising disposable income," adds Dr. Deepak Parikh, Region President, India, Middle East and Africa.
Clariant recently held an opening ceremony to celebrate the inauguration of its application lab in Singapore, one it hopes will interact with customers to 'develop tomorrow’s megatrends in Asia Pacific'.
The new center will be connected to a global network of marketing, application and technology divisions where experts can provide 'unique' ideas and solutions to solve customers unmet needs in the region.
According to Francois Bleger, regional head of Clariant South East Asia and Pacific, the lab will act as a new kind of platform for customers to interact and jointly formulate answers to the consumers demand of tomorrow.
"The launch of our center for the personal care and home market will offer unique sensorial testing to help our partners to find claims for future trends. It also demonstrates our full commitment to pursuing innovation excellence through local capability," he says.
The Swiss firm also announced the launch of a 24-month graduate programme this year, designed for Ph.D. or Master graduates in chemistry, engineering or business studies in Singapore.
The Clariant International Graduate Program (CIGP), which includes six months of working abroad, is similar to a post-graduate degree but focuses heavily on gaining exposure to a variety of company functions.
"We hope to attract a pool of talents and potential leaders," says Mr Chew Kok How, Clariant's South-east Asia and Pacific head of sales for the catalysts business unit.