Asahi announces the commencement of operations at Dahej plant of its JV Asahi Tennants Color

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Ahmedabad, 14th December 2020 (BSE & NSE: ASAHISONG): Asahi Songwon
Colors Limited, a global leader in Blue Pigments, Monday announced
commencement of commercial operations at the Dahej plant of Asahi
Tennants Color, its joint venture with Tennants Textile Colours
Limited (TTC) of UK.

 The state-of-the-art Dahej plant will make Red & Yellow pigments. The
installed capacity of the AZO pigment plant is 2400 metric tonnes per
annum. The plant has been set up at a cost of Rs. 82 crore.

 The JV, in which Asahi holds 51% stake and TTC 49%, was announced on
October 22, 2019, and ground breaking ceremony of the plant was
performed on December 12, 2019, with an expected date of commissioning
in March 2021.
Speaking on the occasion of commencement of commercial operations, Mr.
Arjun Jaykrishna, Executive Director, Asahi Songwon Colors, said, “It
is our pleasure to announce that in spite of the Covid-19 pandemic, we
successfully commissioned the plant on December 14, four months before
the original target date. We are going to work towards full capacity
utilisation at the plant, and aim to double capacity by 2022.”

The Dahej plant will enable Asahi to extend its global pigment
presence, which is currently dominant in the phthalocyanine pigment
space, to the full range of pigment colors.

Mr. Gokul Jaykrishna, CEO of Asahi Songwon Colors, said “The
commencement of operations of the JV company gives Asahi the perfect
launching pad to widen its presence as a leading global supplier of
pigments, and make a mark in the AZO pigment space.”

About Asahi Songwon Colors Limited

Asahi Songwon, headquartered in Ahmedabad, Gujarat, India is a
30-year-old company engaged in manufacturing and supplying
phthalocyanine pigments and derivatives products, which find
applications across ink, paints, plastics, textiles and paper
industries. Over the years it has differentiated itself from
competitors as a leading global manufacturer of pigments, by supplying
consistent high quality products to the world’s top MNCs. Its
principal manufacturing facilities are at Padra in Vadodara in
Gujarat.

About Tennants Textile Colours Limited (TTC), England

TTC is the leading UK-based colour manufacturer. It was started in
1797 and has an annual turnover in excess of 4500 crore INR. It
produces a wide range of colour dispersions (Water & Solvent base)
tailored to optimise their suitability for a range of markets. Today
they export to over 41 countries globally from their base in the UK.

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