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Asahi Songwon and Tennants Textile to set up pigment plant in Gujarat

Asahi Songwon Colors will set up a greenfield factory in a joint venture with Tennants Textile Colors to manufacture red and yellow pigments in the plant.

The plant to be commissioned in March 2021 will be set up in Gujarat and will have a capacity of 2400 tons annual production. Asahi Songwon, based in Gujarat, is a blue pigments manufacturer. Under the joint venture, Asahi will have a 51 per cent shareholding and Tennants Textile Colors a 49 per cent shareholding in the joint venture company Asahi Tennants Color.

The joint venture gives Asahi the perfect launching pad to widen its presence as a leading global supplier of pigments. With TTC’s technology and Asahi’s manufacturing efficiencies, Asahi Tennants Color is set to make a mark in the AZO pigment space. The new venture with the UK-based group will enable Asahi to expand its global pigment presence, currently dominant in the phthalocyanine pigment space, to the full range of pigment colors.

Currently, Asahi is a market leader in the blue pigment business, supplying to top global multinational corporations, but now, after commissioning this project, we will widen the product basket. Pigment is a basic raw material as almost all industrial sectors need pigments with printing ink, paints, plastics and textiles.

 
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