Indian carbon black major PCBL opens European subsidiary

Mumbai, India – PCBL (formerly Phillips Carbon Black Ltd) has established a European subsidiary to advance research and trade in the region.

The Mumbai-based manufacturer incorporated PCBL Europe SRL in Belgium in April, according to the group’s first quarter financial report.

The primary remit of the subsidiary encompasses R&D, manufacturing, marketing and trading of speciality chemicals and other chemical products.

PCBL already operates an innovation centre in Ghislenghien, Belgium, where R&D is focused on "market-driven innovation to expand and augment value."

On other developments during the three month to 30 June, PCBL said it commissioned the first phase of production for speciality carbon black grades at its plant in Mundra, Gujarat.

The facility, commissioned in July, now has capacity to produce 20 kilotonnes per annum (ktpa) of speciality grades. Capacity will double in phase II of the project.

PCBL's quarterly report, issued 12 July, showed an 8% year-on-year decline in sales to INR12.9 billion (€144 million). Profit before tax was marginally up at INR1.6 billion.