Hamburg, 29 November 2023 – Biesterfeld Spezialchemie, a business division of the Biesterfeld Group, is in the process to establish a joint venture in India together with its long-standing partner Kersi Tangri, owner of Hildose Pharmaspecialties. As a first step the new company Biesterfeld Hildose Speciality Chemicals Pvt. Ltd has now been founded in Mumbai. As part of a capital raise, Biesterfeld will acquire 51% of the shares. The joint venture is planned to be officially founded in the next weeks.
Biesterfeld Spezialchemie is active in India since many years sourcing products for multiple industry segments via various channels and wants to establish a strategic long-term oriented foundation of a joint venture securing a structured sourcing setup. Hildose Pharmaspecialties LLP was founded in 1988. The company has focus activities on trading in APIs, Advanced Intermediates and Specialty Chemicals to Europe via Biesterfeld and with customers in the ASEAN region and in North and South America.
Stephan Glander, CEO of the Biesterfeld Group, emphasizes: “India is an enormously attractive market beyond our first focus areas in the pharmaceutical and healthcare sectors, and offers great potential as part of our geo expansion. I am very pleased that we are now taking our long-standing partnership with Kersi Tangri to a new level by founding a joint venture. I am very much looking forward to a continued close and trustful cooperation.”
Commenting on the establishment of the joint venture, Kersi Tangri, owner of Hildose Pharmaspecialties LLP, said: “It is a great pleasure joining the Biesterfeld Group as one of the leading international distributors with the establishment of our joint venture. After more than 25 years of successful cooperation, the establishment of a joint venture is the right step at the right time. I am convinced that the synergies and our joint expertise will enable us to offer our suppliers and customers an even greater added value.”
Peter Wilkes, Member of the Executive Board of the Biesterfeld Group and Spokesman of the Management Board of Biesterfeld Spezialchemie emphasizes: “With Kersi Tangri as owner and his entire team, we have seen a great development in the field of specialty chemicals over more than two decades. We complement each other perfectly and share the same values and business understanding. I am very much looking forward to the last step founding our joint venture.”