Time Technoplast to acquire plastic product division of Solutia Inc. in Europe

24-Aug-10

Time Technoplast Ltd., India’s leading manufacturer and marketer of polymer products, has signed an agreement to acquire plastic product division of Solutia Inc., in Europe. Solutia is a US-based performance materials and specialty chemicals company. As part of the deal, Time will acquire fully operational production facility in Romania, marketing and distribution set up headquartered at Brussels in Belgium and distribution network across the world. The transaction will allow Time to get proprietary technology and know how for manufacturing of numbers of high tech products including Astro Turf and Clear Pass in the space of entrance mattings, artificial turf for indoor and outdoor application, mats for pet care, incubator and spray suppression, etc.