Mumbai, July 29 -- The company has subscribed to 1,000 equity shares of PCBL Chemical USA Inc., each having a face value of $1, aggregating to a total consideration of $1,000. These shares have been issued at par and are held entirely by the company, thereby establishing PCBL Chemical USA Inc. as a wholly owned subsidiary.

The subsidiary in USA will facilitate easier access to the North American markets. A local subsidiary in USA would further help to gain strategic market access, proximity to customers and understand regulatory and incentive landscape. The company enables localization of supply chains of carbon black and speciality chemicals which is of critical strategic significance.

PCBL Chemical is a part of the RP-Sanjiv Goenka Gr...