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Drumbeat: Ad Buzzaar
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Friday, June 26, 1998
Bharucha to be inducted on Clariant board
Anju Ghangurde
MUMBAI, June 25: Colour-Chem vice-chairman and managing director, KJ Bharucha, is proposed to be appointed as director on the board of Clariant India, in what is being widely interpreted as a step towards facilitating the eventual merger of the two entities in India. The proposed integration at the top management level is also expected to quell any speculation about an indefinite delay in a Clariant-Colour-Chem merger in India.The expected merger of the two Indian arms is a direct fallout of global integration of the speciality chemicals business of Hoechst AG with Clariant making the combine a global leader in that area. Hoecsht AG will, hence, transfer its shareholding of 50.1 per cent in Colour-Chem to Clariant AG. Bharucha's proposed appointment is being put forward for shareholder approval at Clariant's forthcoming annual general meeting. He had been appointed as additional director on the Clariant board with effect from May 7, 1998. Significantly, Clariant managing director PR Rastogi is already onthe Colour-Chem board. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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