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Specialty Chemicals Subsidiary Incorporated In Manali Petrochemicals

Chem Dive Team by Chem Dive Team
September 4, 2023
in Asia, Latest News
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Specialty Chemicals Subsidiary Incorporated In Manali Petrochemicals

For its wholly-owned subsidiary, Manali Speciality Pvt. Ltd., Manali Petrochemicals Ltd or MPL has received its incorporation certificate as informed to the exchanges.

The new subsidiary was set up as announced in June to have opportunities in the segment of speciality chemical products.

The company, MPL specialises in the manufacturing of Polyether Polyol, Propylene Glycol and other related substances that are used in raw materials in industries such as defence, building & construction, soft furniture, energy, appliances and automotive. The Chennai-based company is expanding its activity in the speciality segment sector.

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The wholly-owned subsidiary is still to start its business operations, according to MPL. And the MPL shares closed at Rs. 65.55 on the National Stock Exchange, on hearing the news.

MPL had also acquired, by its wholly-owned subsidiary AMCHEM Speciality Chemicals Pvt. Ltd., Singapore, the UK-based Penn Globe Ltd, the speciality chemicals India manufacturer in November 2022.

Source: Image credit: https://tradebrains.in/
Tags: indiaManali Petrochemicalpetrochemicals
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Chem Dive Team

Chem Dive Team

Welcome to the insightful world of chemical knowledge! I'm Mahima Mehta, a seasoned content writer with a passion for all things chemical. With 15 years of experience in the industry, I've dedicated myself to bringing you the latest developments, in-depth analysis, and engaging narratives from the realm of chemistry.

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