LATI, a European leader in engineering thermoplastics, has announced a strategic joint venture with Gujarat-based polymer and dye manufacturer Loxim Industries, aimed at expanding their footprint in India’s growing specialty thermoplastics and engineered plastics market.
Formation of LATI-LOXIM Thermoplastics Private Limited
The new joint venture, LATI-LOXIM Thermoplastics Private Limited, follows LATI’s acquisition of Loxim’s engineering plastic compound manufacturing business. The combined capitalized value of the deal is estimated at Rs 165 crore (~$19.1 million), and is valued at approximately nine times Loxim’s operating profits.
With this partnership, LATI brings its 80 years of global expertise in specialty thermoplastics, while Loxim adds its strong local manufacturing base and market reach, especially in the automotive and electrical sectors
With this partnership, LATI brings its 80 years of global expertise in specialty thermoplastics, while Loxim adds its strong local manufacturing base and market reach, especially in the automotive and electrical sectors
Market Focus and Strategic Objectives
This facility complements Hyland’s existing presence in Kolkata, strengthening its operational capacity in India while creating employment opportunities across technical and support roles
- Automotive
- Electrical and Electronics (E&E)
- Packaging
- Construction
- Household appliances
- E-mobility
Operating from Loxim’s Sanand-based facility with a 20,000-ton annual production capacity, the JV plans to serve both domestic and international customers
Leadership Statements
Michela Conterno, CEO of LATI, emphasized the alignment of values between the two companies, stating:
“This joint venture is born from a deep alignment of values: attention to people, work ethic, innovation spirit, and sustainability.”
Canon Patel, Managing Director of Loxim, expressed optimism:
“We are excited to bring globally benchmarked solutions closer to the Indian market through this shared vision.”
“This joint venture is born from a deep alignment of values: attention to people, work ethic, innovation spirit, and sustainability.”
Canon Patel, Managing Director of Loxim, expressed optimism:
“We are excited to bring globally benchmarked solutions closer to the Indian market through this shared vision.”
Financial and Operational Overview
In FY 2025, Loxim reported revenues of Rs 177.2 crore, a 23% decline year-on-year, with EBITDA at Rs 5.5 crore. The joint venture is expected to enhance both operational capabilities and market penetration by leveraging LATI’s technical strength and Loxim’s distribution network.
Singhi Advisors acted as the transaction advisor to LATI. This deal represents LATI’s 8th acquisition in engineering plastic compounds and its 17th overall in polymer processing.
Singhi Advisors acted as the transaction advisor to LATI. This deal represents LATI’s 8th acquisition in engineering plastic compounds and its 17th overall in polymer processing.
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