AkzoNobel, Atul Mull Indian Monochloroacetic Acid Joint Venture
April 28 2016 - 6:29AM
Dow Jones News
Paints and specialty chemicals firm Akzo Nobel N.V. (AKZA.AE)
said Thursday it and India's Atul Ltd. are exploring the
feasibility of setting up a manufacturing joint venture to produce
monochloroacetic acid, which is used in a wide variety of
chemicals.
The Amsterdam-based company, which lists Dulux, Sikkens,
Interpon and Eka among its brands, said two companies plan to
install a plant at Atul's facility in Gujarat, subject to the
necessary regulatory approvals.
The intended joint venture will use chlorine and hydrogen
manufactured by Atul to produce monochloroacetic acid, taking
advantage of Atul's existing infrastructure and AkzoNobel's latest
eco-friendly hydrogenation technology.
Monochloroacetic acid is an essential building block in the
chemical industry and is used to produce thickening agents for the
food, oil, mining, personal care and detergent industries. It is
also used in agrochemicals, adhesives, pharmaceuticals, thermo
stabilizers, surfactants and cosmetics.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
April 28, 2016 06:14 ET (10:14 GMT)
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