5 March, 2024 16:20:57 IST 
Germany-based International Chemical Investors Group (ICIG), has acquired a majority stake in Hyderabad-based Vasant Chemicals.
ICIG is a privately-owned industrial group with sales in excess of Euro 4.6-bn and focussed on five main platforms of fine chemicals (WeylChem brand), care chemicals (Catexel brand), chlorovinyls (Vynova brand), compounds (Benvic brand), hydrocarbons & solvents (HCS brand), and Enterprises, which comprises several specified companies.
Vasant Chemicals is set to be integrated into WeylChem, the fine chemicals platform. This acquisition is a key component of WeylChem’s strategic initiative to expand its presence in the global speciality chemicals market.
Vasant Chemicals will bring 40+ years of expertise to the WeylChem Group. With facilities in Hyderabad (Jeedimetla) and Visakhapatnam (Atchutapuram), the company specialises in the production of specialty chemicals and pharmaceutical intermediates and exports its products under long-term contractual agreements.
“By integrating the expertise, resources, and technologies of both companies, the acquisition aligns with our strategic goal to create long-term value for our customers, employees, and stakeholders. It allows WeylChem to directly participate in the fast-growing Indian market and adds a manufacturing and distribution base in Asia,” stated Dr. Andreas Maier, CEO of the WeylChem platform convinced of the strategic fit of the acquisition.
“We are confident that the synergies between our organisations will drive operational efficiencies and unlock new growth opportunities,” said Mr. G.K.B Chowdary representing the former majority owner who will still hold a minority participation.
