India’s Eternis Acquires Tennants Fine Chemicals
Indian aroma chemicals producer Eternis has acquired the UK’s Tennants Fine Chemicals and its wholly owned subsidiaries in Singapore and Shanghai, China, for an undisclosed sum. The deal is Eternis’ first acquisition outside of India.
“The addition of this large independent, high-end manufacturer enhances our business and brings with it many strategic advantages,” said Eternis managing director Rajen Mariwala. “We will now have established operations in Europe and Asia, with the ability to service our customers from stock hubs and partners. The combined product offer will position us well for further growth. In many respects, a perfect fit.”
Billy Gittins, managing director of Tennants Fine Chemicals, added: “Our combined manufacturing footprint across two key regions will offer better security of supply. Our regional service strategy in China and SE Asia has proved beneficial and will be further strengthened with the addition of Eternis’ products.”
Eternis was formerly known as Hindustan Polyamides and Fibres until 2015. Headquartered in Mumbai, the company operates three production plants in Maharashtra with a total capacity of more than 40,000 t/y of aroma chemicals. Its first acquisition was in June 2018 with the addition of India’s Aims Impex, a leading manufacturer of coumarin.
Author: Ellaine Burridge, Freelance Journalist
