By: ICN Bureau
Last updated : April 17, 2026 9:20 am
The partnership marks a strategic step towards building a globally competitive and technically advanced Plastics Polymer solutions platform
DCM Shriram is selling a 50% stake in Shriram Polytech to Teknor Apex B.V. for $5.6 million, forming a new joint venture named PolyTek. By merging Shriram’s local vinyl compounding reach with Teknor’s global formulation tech, the partnership aims to fast-track the development of high-performance polymer solutions
This collaboration marks a key milestone for DCM Shriram as it expands its polymer compounds portfolio and scales global partnerships in high-growth sectors. By merging Shriram Polytech’s domestic manufacturing expertise in vinyl compounds with Teknor Apex’s global formulation strengths, the joint venture will provide high-performance, specialty polymer solutions for various industrial needs
India’s emergence as one of the world’s fastest-growing manufacturing and consumption hubs presents a compelling opportunity for innovation-led growth in advanced polymer compounds. Through PolyTek, the partnership will leverage India’s strategic position to enhance supply chain resilience, improve access to cutting-edge material technologies, and elevate product performance standards across industries.
Ajay S Shriram, Chairman & Sr Managing Director, DCM Shriram Ltd., said: "This partnership reflects our strategic intent to build future-ready businesses by combining global expertise with strong domestic capabilities. India is at an inflection point in advanced technologies and manufacturing, and through this joint venture, we aim to create a platform that delivers high-performance products and solutions at scale. Together with Teknor Apex, we are well positioned to drive innovation, strengthen supply chain resilience, and serve the evolving needs of both Indian and global customers."
Donald Wiseman, Chief Executive Officer of Teknor Apex, added: "Our collaboration combines Shriram Polytech’s presence in vinyl materials with Teknor Apex's formulating expertise to deliver high-performance solutions for one of Asia’s largest industrial ecosystems. By combining our strengths, we gain immediate access to a well-established local platform, deep market insight, and a strong manufacturing foundation."
The joint venture reflects a shared commitment to operational excellence, scale, sustainability, and responsible growth. PolyTek will focus on providing advanced polymer solutions that meet evolving customer needs while aligning with global environmental standards.