MOSCOW (MRC) -- BTC Europe, BASF’S European distribution organization, and Sudarshan Chemical Industries, a manufacturer of high-quality pigments based in Pune, India, have signed an agreement on the distribution of organic and inorganic pigments as well as effect pigments in Europe, said Hydrocarbonprocessing.
Both companies seek to leverage their expertise and industrial know-how to offer customers access to a wide portfolio of high-quality pigments for various industries.
We are pleased to have found such a strong partner in Sudarshan who will be able to supply us with high performance pigments that cover the full color circle”, said Jose Corral Montilla, Managing Director of BTC Europe. “Our customers will benefit from access to a broad range of high-quality pigments for different applications and industries. Moreover, the collaboration between our two companies will enable us to extend our third-party product portfolio and thereby strengthen our competitive advantage in the pigments market."
“By combining the advantages of our solutions with BTC Europe’s strong position in the chemical distribution market in Europe, we can together seize new market potentials for high-quality pigments,” said Milan Krumbe, General Manager Sudarshan Europe. “I am very much looking forward to our cooperation and to opening up new channels for our products that serve a wide range of industries and applications.
We remind, BASF said it would cut 2,600 jobs, halt share buybacks and hike investment to improve competitiveness as it warned of a further decline in earnings due to rising costs. The German chemicals giant said in a statement that adjusted 2023 earnings before interest and tax (EBIT), would fall to between 4.8-5.4 billion euros (USD5.09-USD5.69 billion) from 6.9 billion euros in 2022, which was down 11.5% from 2021.