Mulla & Mulla & Craigie Blunt & Caroe advised Lubrizol Advanced Materials, a segment of Lubrizol Corporation, when it entered into an agreement with Grasim Industries to manufacture and supply chlorinated polyvinyl chloride (CPVC) resin in India.
Bharucha & Partners advised BSE, NSE and Luxembourg Stock Exchange-listed Grasim Industries, which is part of the Aditya Birla Group.
The deal, which was announced on 30 October, was done through the US company’s in-house team, which included general counsel of Lubrizol Corporation Jeffrey J Lauderdale and Scott Korpowski.
Partner Shardul Thacker, who led Mulla & Mulla’s team on the deal, told India Business Law Journal that the “collaboration of Lubrizol and Grasim is in support of the government of India’s ‘Make in India’ initiative, which is expected to bolster economic development in the state of Gujarat”. The firm’s team included senior associates Bindiya Raichura and Siddharth Thacker, and associate Maithili Haldankar.
Bharucha & Partners’ team was led by partner Alka Bharucha and included managing associate Swathi Girimaji and associate Shefali Murthy.
In a statement, Grasim Industries said the construction of the CVPC plant would take place in a phased manner, and once commissioned, it would be the single-largest site capacity for CPVC resin production globally. Initial production is expected in late 2022.