October 20, 2014

Shriram Vinyl PolyTech Ltd. (subsidiary of DCM Sriram) entered into the Joint Venture Agreement with M/s. Axiall, LLC (subsidiary of Axiall Corporation, USA) for forming a 50:50 Joint Venture for the Polymer Compounding business carried on by the JV Company Sriram Axiall Pvt. Ltd.

This arrangement will enable the JV Company to launch latest generation Polymer Compounds in India, offering more cost effective polymer solutions for different applications in domestic market. Axiall invested Rs. 34.65 crore to buy 50 percent stake in Shriram Vinyl PolyTech (P) Ltd. (SVP). Shriram PolyTech is now Shriram Axiall Pvt. Ltd. (An Indo-US Joint Venture between DCM Shriram Ltd. & Axiall Corporation).

As per the JV agreement, SVP will have access to Axiall’s technology, market knowledge and competence – particularly in the area of PVC compounding. The JV aims to create high value-added PVC and CPVC compounds for diverse and new applications.

DCM Shriram Ltd. is 6400 crore integrated business entity and one of the leading players in Polymer Compounding in India. It has presence across the entire Agri-rural value chain and Chloro-Vinyl industry.

Axiall is a North American manufacturer and international marketer of two integrated chemical product lines, Chloro-Vinyls and aromatics, with annualized pro forma revenues of approximately USD 5 billion.