Arkema Partners with Jayant Agro in India
Arkema and Jayant Agro have signed a joint venture agreement whereby Arkema will acquire a stake of some 25% in Ihsedu Agrochem, a subsidiary of Jayant Agro, specializing in the production of castor oil. This joint venture aims to develop castor oil production in order to provide Arkema with long-term access to this strategic raw material for the manufacture of its biosourced polyamides.
Jayant Agro is a producer of castor oil and derivatives. Its subsidiary Ihsedu Agrochem has been the pioneer of the castor oil industry in India and has an experience of over 60 years in the processing of castor seeds into oil. It has been one of Arkema's main suppliers from the outset.
Arkema is a players in the castor oil sector with the manufacture of its biosourced specialty polyamides 10 and 11. In 2012 the Group acquired Chinese companies Hipro Polymers and Casda Biomaterials - respectively producers of polyamide 10 and sebacic acid from castor oil.
The project should be finalized in the 3rd quarter 2013.