DCM Shriram Ltd. has announced a strategic joint venture with Teknor Apex B.V., a subsidiary of Teknor Apex Company, to create a new entity named PolyTek. This collaboration aims to strengthen DCM Shriram‘s polymer compounds portfolio and expand its global partnerships in high-growth sectors.
The joint venture marks a significant milestone for DCM Shriram, as it combines Shriram Polytech’s domestic manufacturing capabilities in vinyl compounds with Teknor Apex’s global formulation expertise. The partnership is set to deliver high-performance and technically advanced specialty polymer solutions for diverse industrial applications.
India’s rapid growth as a manufacturing and consumption hub presents an opportunity for innovation-led growth in advanced polymer compounds. Through PolyTek, the joint venture will leverage India’s strategic position to enhance supply chain resilience and improve access to cutting-edge material technologies.
Ajay S Shriram, Chairman & Sr Managing Director of DCM Shriram Ltd., expressed that the partnership with Teknor Apex reflects the company’s strategic intent to build future-ready businesses by combining global expertise with strong domestic capabilities. He emphasised the joint venture’s aim to deliver high-performance products and solutions at scale.
Donald Wiseman, Chief Executive Officer of Teknor Apex, highlighted the collaboration’s potential to deliver high-performance solutions for Asia’s industrial ecosystem. He noted that the partnership provides immediate access to a well-established local platform and a strong manufacturing foundation.
The joint venture is committed 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 poised to accelerate growth, deepen customer engagement, and expand its footprint in one of the world’s most dynamic markets.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).