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Orbia s Alphagary expands with majority stake in Indian compounder Shakun
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The Alphagary unit of global materials firm Orbia Advance Corp. has acquired a majority stake in Shakun Polymers Pvt. Ltd., a compounder based in India.
Shakun makes compounds for wire and cable markets in the Indian subcontinent, the Middle East, Southeast Asia and Africa, officials said in a May 13 news release. They added that the deal represents an important strategic investment for Leominster-based Alphagary, which specializes in PVC and TPE compounds. With its investment, Alphagary is expanding its product and regional footprints, as Shakun will continue to provide next-generation materials designed to meet the high safety and performance standards in Asia and Africa s markets, officials said.
Posted on 1616
Orbia Advance Corporation, S.A.B. de C.V. (BMV: ORBIA ) (“the Company” or “Orbia”) announced today the launch of its inaugural sustainability-linked bonds in the international capital markets. This transaction incorporates the issuance of $600 million at 1.875% senior notes due in 2026, and $500 million at 2.875% senior notes due in 2031 (the “bonds”).
Says Sameer Bharadwaj, CEO of Orbia, “This transaction demonstrates Orbia’s commitment to the environment and bringing forth cleaner, greener solutions that are better for people and planet. Our journey thus far has been guided by a drive for positive impact and we are delighted to enable investors to join us in advancing life around the world, responsibly.”