DCM Shriram Ltd., a leading multi-faceted business conglomerate, has announced the sale of a 50 percent stake in its plastic compounding subsidiary, Shriram Polytech Ltd., to the Dutch firm Teknor Apex Company for a total consideration of US$ 5.6 million. Under the agreement, Shriram Polytech Ltd. has entered into a joint venture with Teknor Apex B.V., a subsidiary of Teknor Apex Company, a global leader in plastic material science solutions. The joint venture will operate under the brand name PolyTek.
This partnership represents a significant milestone in DCM Shriram’s strategy to strengthen and expand its polymer compounds portfolio and develop global partnerships in high-growth sectors. By combining Shriram Polytech’s strong domestic presence and manufacturing capabilities in vinyl compounds with Teknor Apex’s global formulation expertise, the joint venture aims to deliver high-performance, technically advanced specialty polymer solutions for diverse industrial applications.
While neither DCM Shriram nor executives from the acquiring company have officially disclosed the deal value or stake details in DCM Polytech Ltd., reports suggest that the joint venture involves a 50 percent stake at a total consideration of US$ 5.6 million. Efforts to reach executives at DCM Shriram did not elicit any response.
India-the fastest growing manufacturing hubIndia’s emergence as one of the world’s fastest-growing manufacturing and consumption hubs presents a compelling opportunity for innovation-led growth in advanced polymer compounds. Through PolyTek, the partnership will leverage India’s strategic position to enhance supply chain resilience, improve access to cutting-edge material technologies, and elevate product performance standards across industries.
Ajay S. Shriram, Chairman and Senior Managing Director of DCM Shriram Ltd., said: “This partnership reflects our strategic intent to build future-ready businesses by combining global expertise with strong domestic capabilities. India is at an inflection point in advanced technologies and manufacturing, and through this joint venture, we aim to create a platform that delivers high-performance products and solutions at scale. Together with Teknor Apex, we are well positioned to drive innovation, strengthen supply chain resilience, and serve the evolving needs of both Indian and global customers.”
Expert viewDonald Wiseman, Chief Executive Officer of Teknor Apex, added: "Our collaboration combines Shriram Polytech’s presence in vinyl materials with Teknor Apex's formulating expertise to deliver high-performance solutions for one of Asia’s largest industrial ecosystems. By combining our strengths, we gain immediate access to a well-established local platform, deep market insight, and a strong manufacturing foundation."
The joint venture reflects a shared commitment to operational excellence, scale, sustainability, and responsible growth. PolyTek will focus on providing advanced polymer solutions that meet evolving customer needs while aligning with global environmental standards. By integrating global innovation with local execution capabilities, the partnership is well positioned to accelerate growth, deepen customer engagement, and expand its footprint in one of the world’s most dynamic markets.
The companyShriram Polytech Ltd. Shriram Polytech Ltd., a subsidiary of DCM Shriram Ltd., is a leading plastics compounding company in India. It specializes in vinyl compounds and specialty polymer solutions, serving a wide range of industrial applications with a strong focus on quality, innovation, and customer centricity.
Teknor Apex Company Teknor Apex Company, founded in 1924 and headquartered in Pawtucket, Rhode Island, USA, is a global provider of plastic material science solutions. The company manufactures a broad portfolio of materials including vinyl compounds, thermoplastic elastomers, and engineering thermoplastics, with operations across the United States, Europe, and Asia.
Teknor Apex B.V. Teknor Apex B.V. (a wholly owned subsidiary of Teknor Apex Company) is a Dutch entity based in Geleen, NL with operations in Genk, Belgium primarily engaged in the business of manufacture and sale of Thermoplastic Elastomers in the European Union, the Middle East, and Africa, Teknor Apex BV supports industries including automotive, consumer products, medical, wire & cable, and industrial applications.
DILIP KUMAR JHA
Editor
dilip.jha@polymerupdate.com
