German firm Rehau acquires 51% stake in Red Star Polymers
The Hindu
Rehau Group acquires majority stake in Red Star Polymers, plans global expansion in polymer product solutions.
Germany headquartered Rehau Group has acquired 51% stake in the Chennai-based Red Star Polymers Pvt. Ltd. for an undisclosed sum and plans to acquire the balance within the next three years.
Rehau is a global leader in polymer product solutions for emerging markets such as interior, building, windows, railways (Metro), and automotive across the world. It has presence in over 100 countries and posted revenue of more than €4.7 billion last year.
In India, Rehau Polymers Pvt. Ltd. has a UPVC Edgebands manufacturing facility at Vadodara. It posted sales revenue of ₹400 crore in 2023.
On the other hand, Red Star Polymers promoted by S. Karthikeyan is a leading producer of PVC Edgeband tapes and has manufacturing facility in Sri City. Currently, it employs 200 people and it is expected to increase to 250 with the upcoming expansion plans.
“With this strategic acquisition, Rehau is expanding its Edgeband product portfolio from the existing premium Raukantex Edgebands to the mass-market Edgeband range with Red Star. Besides, it is also planning to take Red Star abroad,” he said.
Rehau Asia Pacific CEO Rafael Daum said: “This acquisition is a crucial step in Rehau’s global expansion strategy. While Red Star has been serving South India, our goal is to leverage its capabilities to cater to the growing mid-market in India, particularly across Tier 2 and Tier 3 cities.”
“This move not only strengthens our presence in India but also reinforces our commitment to making premium products accessible to all. We are also evaluating whether this approach can be replicated in other markets in Asia-Pacific region with similar demand patterns,” he said.
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