Chembond Chemicals Limited has confirmed acquisition of 55 of the shares of Protochem Industries Private Limited in the first phase of the takeover of the company. Protochem is a reputed, ethical, well-established, and very competent metal treatment chemicals manufacturer for many decades. “It is a source of great pride to all of us to see this company become a part of our group” said Dr. Vinod D. Shah, Executive Chairman of Chembond on the occasion. The legal formalities and purchase of the remaining shares of Protochem are expected to be completed before August 31.In an internal address, Mr. Sameer V. Shah, Vice Chairman and Managing Director of Chembond indicated that “our plan is to transfer the Protochem business to our joint venture, Henkel Chembond Surface Technologies Limited while retaining the company, facilities, and non-sales or technical service personnel, which will be used to drive growth in new products within Chembond. In the metal treatment chemicals industry, this acquisition will reinforce our market leading position in India by delivering access to good product technologies, a complementary customer base, and a great group of committed employees”.