Rhodia Specialty Chemicals India Ltd Merged Company Summary

Rhodia Specialty Chemicals India Ltd Merged Summary

Incorporated in Sep.65, Albright & Wilson Chemicals India (AWCIL), formerly known as Albright Morarji & Pandit was promoted by Albright & Wilson, UK, the Dharamsi Morarji Chemicals Co and the Pandit family.The company manufactures and sells phosphoric acid (24,000 tpa) and sodium tripolyphosphate (30,000 tpa). It diversified into the manufacture of sulphuric acid and LAB sulphonic acid. In 1992-93, it acquired the plant for synthetic detergents and active detergent sulphonates from the Dharamsi Morarji Chemicals Co, Roha. In Jan.94, it came out with a rights issue at a premium of Rs 55/- per share to set up a plant at Roha to manufacture di-calcium phosphate, (inst. cap. : 3000 tpd). The project was abandoned as market conditions for DCP had changed adversely.The companys products are used in the detergent, textile, dyestuff, metal treatment, water treatment, fertiliser, sugar and phosphate industries. The product di-calcium phosphate is the basic raw material required in the manufacture of toothpaste. The main users are Colgate-Palmolive (India), Balsara Hygiene Products, etc. During 1995-96, Albright & Wilson Plc, UK, has increased its stake from 39.75% to 73% in Jun.96 and the name was subsequently changed to Albright & Wilson Chemicals India Ltd. During the year 1999, Rhodia SA had acquired Albright and Wilson plc through ISPG Ltd.Rhone-Poulenc India has divested its holding in Rhodia Chemicals in favour of Albright & Wilson Chemicals India for Rs 15 lakh. After the deal, which was concluded in December 2000, Albright & Wilson Chemicals India owns 49.5 per cent of Rhodia Chemicals India and French speciality chemicals firm Rhodia will hold 50.5 per cent.The company made a investment to the extent of Rs.1.48 lakhs for acquiring the shares of Rhodia Chemicals India Pvt Ltd for cash at par of Rights basis.