02/22/2011

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Rhodia to accelerate growth in India

The deal includes all assets of PI Polymer, primarily one industrial facility that employs more than 80 people, R&D capabilities, customer base, and logistics network in India. PI Poly­mer forecasts a sales revenue of about USD 13 million for its fiscal year 2010/11.The acquisition price represents an estimated 2010/11 EBITDA multiple of around 7x. The deal is expected to be finalised by the end of March 2011. The acquisition will strengthen Rhodia's presence in India, where Technyl engineering plastics are already imported. The company has operated in the country since 2001 through its surfactants business. Rhodia says it plans to rapidly expand this activity, with a capacity increase scheduled shortly.

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