Manali Petrochemicals Ltd (MPL), completed the sale of its step-down subsidiary, Notedome Ltd, to Italy’s C.O.I.M. S.p.A. – Chimica Organica Industriale Milanese (“C.O.I.M.”). The transaction, valued at ₹247 crore, received all required regulatory approvals.
Refocusing on Core, High-Growth Segments
The divestment forms part of MPL’s broader strategy to restructure its portfolio and sharpen its focus on core products within its polyols and derivatives business in India. As part of the agreement, MPL will continue to market its cast elastomers in India under a new trademark. This will ensure continuity in its domestic offerings.
C.O.I.M. Expands Global Footprint
With this acquisition, C.O.I.M. strengthens its international presence in the polyurethane systems sector. The company also enhances its product and service capabilities across key European markets, reinforcing its leadership in specialty chemicals.
Leadership Highlights Strategic Focus
Ashwin Muthiah, Chairman of MPL and Founder Chairman of AM International, Singapore, said the move enables MPL to channel capital, talent, and R&D toward high-growth market segments. As reported by thehindubusinessline.com, he noted that the company sees strong and scalable demand in areas such as automotive, cold chain, construction, footwear, and propylene glycol derivatives. The divestment also provides MPL the flexibility to pursue future global mergers and acquisitions in more closely aligned sectors.
