Manali Petro’s overseas step-down subsidiary forms Indian unit

Updated - February 21, 2024 08:26 pm IST

Published - February 21, 2024 08:25 pm IST - CHENNAI

Manali Petrochemicals Ltd.’s (MPL) overseas step-down subsidiary PennWhite Ltd. announced the formation of a subsidiary in India to address the growing needs of the Indian market for premium foam control solutions.

U.K.-based PennWhite, a leading manufacturer of anti-foam chemistry, is currently assessing the viability of establishing a manufacturing facility in Tamil Nadu in the short- to mid-term to enable local manufacture of selected products, the company said in a statement.

The Indian subsidiary – PennWhite India Pvt. Ltd. – was formed on February 8. MPL acquired PennWhite in November 2022.

“We have high growth aspirations in the Indian market with our varied value-based offering: we help customers solve tricky foam problems in their industrial plants, so they can place their focus instead on operations of their plants,” said Pennwhite CEO Tobias Tasche.

“Our acquisition by MPL less than two years ago has now given us a real platform to build on an opportunity to synergise our capabilities and products to strengthen our position in the Indian and neighbouring Asian market with the additional presence of this new entity,” he said.

“MPL group continues to focus on R&D initiatives in speciality segments in order to deliver eco-friendly process, products and solutions to varied industries and diversified customer needs. These strategic elements are aligned with what PennWhite has been doing for almost two decades already in other parts of the world,” said MPL CFO Chandrasekar Ramaswamy.

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