BOSTON--(BUSINESS WIRE)--Alphagary, a global leader in the design and manufacture of specialty polymer compounds and a division of Orbia�s Polymer Solutions business group, announced today that it will acquire majority share ownership of Shakun Polymers Private Limited (�Shakun�), a privately held and family-owned market leader in the production of compounds for the wire and cable markets in the Indian subcontinent, the Middle East, Southeast Asia and Africa.

Subject to the satisfaction of certain customary closing conditions, the transaction is expected to close in short order and represents an important strategic investment for Alphagary. With its investment, Alphagary is expanding its product and regional footprints as Shakun will continue to provide next-generation materials designed to meet the high safety and performance standards in Asia and Africa�s markets.

As a direct complement to Alphagary�s specialty product offerings that support a connected world, Shakun�s product development focus is on halogen-free, flame-retardant compounds and PVC-based compounds for data and power cables. In addition, Shakun�s semi-conductive and cross-linkable compounds expand Alphagary�s portfolio, offer a growth platform and meet customer requirements.

Key members of the Shakun management team will remain with the business, underlining the commitment of both organizations to create added value for customers and stakeholders.

Said Rakesh Bansal, Joint Managing Director of Shakun, �We are very excited by Alphagary�s investment in Shakun and the opportunity it creates to deliver on our customers� requirements. I am delighted to be part of a team that will work together to offer a wider portfolio of materials and more efficient supply chains that help us focus on service.�

�Shakun has rapidly built a significant market position by providing quality materials geared toward meeting customer needs in Asia and Africa,� said Gautam Nivarthy, President of Alphagary. �While Alphagary has a broad reach from its facilities in the United States, Europe and Mexico, the addition of Shakun�s market position in Asia and Africa coupled with the team�s entrepreneurial spirit will enable us to broaden our innovation horizons,� continued Nivarthy.

Added Sameer Bharadwaj, CEO of Orbia, �Even as India faces difficulty with the current pandemic, we are confident in the resilience of the Asia-Pacific and African markets and long-term growth coming from these regions. This investment provides us with a local presence, a wider scope for future-focused development and a strong customer base for our products and services that help to advance life around the world. We welcome Shakun to the Orbia family and look forward to their immediate contributions to our success together.�

ABOUT ALPHAGARY

Alphagary (Mexichem Specialty Compounds) is a global leader in the design and manufacture of innovative compound blends and alloys from a diverse range of polymers including PVC, TPE, Olefin, and Urethane. The group also provides stabilizers under its brand VINASTAB, as well as plasticizers and colorants. The group was formed when Mexichem (now Orbia) purchased Alphagary and joined it with Bayshore Vinyl Compounds. In 2016, Vinyl Compounds Ltd. (UK) was added, and in 2018, Sylvin Technologies (US) was acquired. Together with heritage compound assets in Mexico and Colombia, the Alphagary group operates from eight (8) facilities (US, UK, Mexico and Colombia) with a global sales and distribution network. Over the decades, the group has earned a long-standing reputation with its compounding capabilities, servicing a wide range of industries including wire and cable, medical device, automotive, building, industrial and consumer goods markets with both standard and custom formulations designed to meet market-specific testing requirements. Brands include ALPHAMED, ALPHASEAL, DURAL, EVOPRENE, GARAFLEX, MEGOLON, SMOKEGUARD, SYLVIN, VINASTAB, VYTHENE, DUROVIN, FLEXOVIN, IZTABLEND, MEXIVINYL, PROVIN, POLIVISOL, and VINDEX. Alphagary emphasizes its health, safety, environment and quality programs by maintaining OHSAS, ISO 9001, ISRS, and ISO 14001 certifications. Visit: Alphagary.com

ABOUT ORBIA

Orbia is a community of companies united by a shared purpose: to advance life around the world. The Orbia companies have a collective focus on reinventing the future of cities and homes, ensuring food security, reducing water scarcity, connecting communities to data infrastructure and expanding access to health and wellness with advanced materials. Orbia operates in the Polymer Solutions, Building and Infrastructure, Precision Agriculture, Data Communications and Fluorinated Solutions sectors. The Company has commercial activities in more than 110 countries and operations in over 50, with global headquarters in Mexico City, Boston, Amsterdam and Tel Aviv. To learn more, please visit orbia.com.

ABOUT SHAKUN

Shakun Polymers Private Limited is one of the leading players in the field of compounding for the wire and cable industry. Shakun�s specialty compounds have applications across a wide spectrum, including power cables, building wires, telecommunications and fiberoptic cables, instrumentation cables and photovoltaic cables. Shakun has four manufacturing facilities in India, a total installed capacity of more than 40,000 MT and has invested in modern machinery, equipment and efficient manufacturing processes for leading product quality. With a focus on tailoring to product and customer requirements, products are perfected with in-house testing facilities and at accredited testing facilities in India and abroad. Visit: Shakunpolymers.com

Contacts

Alphagary
Denise Wallace, Marketing Manager

+1-978-833-4532

[email protected]

Orbia
Kacy Karlen, Head of Global Communications

+1-865-410-3001

[email protected]