Gujarat-based leading blue pigments manufacturer Asahi Songwon Colors Ltd has announced to set up a Greenfield factory in a joint venture with UK major Tennants Textile Colours Ltd to manufacture red and yellow pigments in the plant.
The new plant to be commissioned in March 2021 will be set up in industrial town Dahej and will have capacity of 2400 tonne annual production.
Under the JV, Asahi will hold 51% shareholding and TTC will hold 49% shareholding in the JV Company named Asahi Tennants Color Private Limited.
“The JV gives Asahi the perfect launching pad to widen their presence as a leading global supplier of pigments. With TTC’s technology and Asahi’s manufacturing efficiencies, Asahi Tennants Color Pvt Ltd is set to make a mark in the AZO pigment space,” Arjun Jaykrishna, Executive Director of Asahi Songwon Colors Limited, said after the announcement.
With turnover of ₹300 crore, publicly listed Asahi Songwon Colors Limited is a leading manufacturer of Phthalo Pigments (one of the largest categories of pigments manufactured in India) comprising of CPC Blue Crude and a range of Beta Blue Pigments. About 70% of the company’s business is exports to various countries like Japan, Korea and others.
According to Gokul Jaykrishna, CEo of the company, the new venture with UK-based group will enable Asahi to extend its global pigment presence, which is currently dominant in the phthalocyanine pigment space, to the full range of pigment colours.
“Currently, Asahi is market leader in the Blue pigment business, supplying to the top global MNC’s but now after commissioning this project, we will widen the product basket,” he added.
Pigment is a basic raw material as almost all industrial sectors need pigments with printing ink, paints, plastics and textiles.
