PennWhite Ltd sets up Indian subsidiary as part of global growth strategy

Chennai, Feb 21 (PTI) UK-based PennWhite Ltd, which manufactures specialty chemicals, announced on Wednesday that it is setting up its subsidiary PennWhite India Pvt Ltd.

The formation of its Indian subsidiary would allow PennWhite India to address the growing needs of the domestic market for premium foam control solutions.

Following its entry into the domestic market, PennWhite India Pvt Ltd is assessing the viability of establishing a world-class unit in Tamil Nadu to manufacture select products of PennWhite Ltd.

PennWhite Ltd produces over 200 products from high quality foam control agents to high-performance lubricants, and surface coatings, among others, which are used in various industries including food and food processing, waste water treatment.

"I am delighted with today's announcement which is the result of continued focus on our global growth strategy to solidify our leading position in foam control agents and chemical solutions. PennWhite Ltd already supply customers in more than 40 countries and we are keen to ensure that we have a strong footprint in one of the world's most exciting growth markets," PennWhite Ltd, UK, Chief Executive Officer, Tobias Tasche said in a company statement.

"We have high growth aspirations in the Indian market with our varied value-based offering; we help customers solve tricky foam problems in their industrial plants, so they can place their focus instead on operations of their plants," he said.

In November 2022, PennWhite Ltd was acquired by Chennai-based petrochemical manufacturer Manali Petrochemicals Ltd.

"Our acquisition by Manali Petrochemicals less than two years ago has now given us a real platform to build on an opportunity to synergise our capabilities and products to strengthen our position in the Indian and neighbouring Asian market with the additional presence of this new entity," Tasche added. PTI VIJ ANE