Business Daily from THE HINDU group of publications
Thursday, Jun 15, 2006
Business Daily from THE HINDU group of publications Thursday, Jun 15, 2006 |
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Corporate
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Alliances & Joint Ventures Ciba Specialty, Virchow Group to form joint venture Our Bureau
Mumbai , June 14 Ciba Specialty Chemicals (India) Ltd has entered into a joint venture with the Hyderabad-based Virchow Group for the production of Triclosan, an anti-microbial ingredient used in a variety of products, including cosmetics. Ciba Specialty will hold the majority 51 per cent stake in the new company, which will produce Triclosan for the domestic and other Asian markets, said Mr Jimmy Bilimoria, Vice-Chairman and Managing Director of Ciba Specialty, in a statement on Wednesday. Triclosan is used in products such as toothpaste, soap, deodorants, and non-cosmetic articles such as shower curtains and technical textiles because it helps prevent the occurrence of oral infections, germ transfer, body odour, and material decay.
Cost-effective
According to Dr Mahesh A. Kotnis, Vice-President (Business Development), the new company would provide a cost-effective and quality supply-point in Asia, in addition to the company's existing Triclosan manufacturing sites. "We look to India not just as a market to sell but to develop and manufacture our products, and also to buy key raw materials and intermediates," he added.
Expanding share
Ciba Specialty expects to expand its share of the growing cosmetics market in Asia and improve its position in the region. Using technology from Ciba Specialty, the production facility at Hyderabad will be fully enabled to make Triclosan with purity equivalent to United States Pharmacopoeia (USP) specifications, the note said. Mr Narayana Reddy, co-promoter of the Virchow Group, said: "Ours is a 25-year-old group with interests mainly in the active pharmaceutical ingredient and bio-pharmaceutical industry. "This is the first joint venture for the Virchow Group and is part of our diversification strategy."
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