VILLEJUST, France (Nov. 5, 2007) — Eliokem S.A.S. has agreed to buy the nitrile rubber business of India's Apar Industries Ltd. for $27.5 million.
The purchase of Apar's Polymer Division will give France's Eliokem the sole manufacturer of nitrile rubber in India, a business that had sales of about $34 million for the fiscal year ending in March, Eliokem said.
The division operates a plant in Valia in the state of Gujarat, a facility that has an annual production capacity of 15,000 metric tons, according to previously published figures.
The companies have a history of cooperation based on their use of emulsion polymerization technology inherited from Goodyear, Eliokem said.