DCM Shriram Partners with Teknor Apex: A New Era in Polymer Solutions

DCM Shriram is divesting 50% of its stake in Shriram Polytech Ltd to Dutch company Teknor Apex for $5.6 million. The move, turning SPL into a joint venture, aims to combine SPL's manufacturing with Teknor's global expertise to innovate polymer solutions. The deal supports DCM's strategy to expand its advanced materials portfolio.

DCM Shriram announced its decision to sell half of its stake in subsidiary Shriram Polytech Ltd (SPL) to Teknor Apex B V, a Dutch firm, for USD 5.6 million.

The sale will transform SPL into a joint venture, reducing DCM Shriram's ownership from 100% to 50%, as per a regulatory filing on Thursday. The deal is expected to finalize by April 23.

This strategic partnership will leverage SPL's domestic manufacturing prowess in vinyl compounds and Teknor Apex's global formulation expertise, aiming to create specialized polymer solutions for industrial applications. It aligns with DCM's goal to enhance its advanced materials portfolio and forge global collaborations in high-growth markets.

(With inputs from agencies.)