Law firms Cyril Amarchand Mangaldas and HEUSSEN take on legal work for LATI and LOXIM in their joint venture
Leading European manufacturer of engineering thermoplastics, Lati Industria Termoplastici S.p.A. (LATI), has announced a significant strategic partnership with India's Loxim Industries Limited. The joint venture, named LATI-LOXIM Thermoplastics Private Limited, aims to strengthen their combined presence in the growing Indian market for engineering plastics.
### The Joint Venture Details
The joint venture was established following the spin-off of Loxim’s Engineering Compounds division. LATI holds a 51% stake in this new entity, while the key promoters of Loxim own 49%. The purpose of the joint venture is to combine LATI’s European technological expertise in high-performance technopolymers with Loxim’s established local presence, particularly in the automotive and electrical markets in India.
Loxim contributes an annual production capacity of 20,000 tons from its facility in Sanand, Gujarat, enabling the joint venture to meet India's rising demand across sectors such as electronics & electrical (E&E), household appliances, automotive, and e-mobility. This partnership allows customers in India to access LATI’s advanced thermoplastic solutions for critical applications including engine parts, connectors, sensors, and insulation components. It supports growth for multinational clients and positions the new company as a key supplier for emerging industries within India.
### Strategic Importance and Vision
The collaboration embodies shared values including innovation, sustainability, and attention to workforce welfare. It reflects a broader industry trend toward co-creation and localization, aiming to optimize supply chains, reduce carbon footprints, and respond quickly to market needs in a competitive landscape.
### Legal Advisory Roles
Cyril Amarchand Mangaldas (CAM) served as the legal advisor to LATI for this transaction. CAM advised on the acquisition of Loxim’s engineering plastics division and the formation of the joint venture. The deal involved a business transfer on a slump sale basis and investment by LATI in the joint venture to fund the acquisition. The transaction was signed on March 30, 2025, and closed on June 12, 2025. Alongside CAM, HEUSSEN Studio Legale e Tributario also advised LATI, particularly providing specialized expertise in legal and tax matters relating to this cross-border transaction.
Loxim Industries, an Ahmedabad-based company established in 1977, is involved in manufacturing various products such as textile and non-textile dyes, polymer products, dyestuffs, engineering plastics, and PET granules. The joint venture marks a significant step in LATI's global expansion and Loxim's growth in the engineering plastics market, combining European innovation with strong Indian manufacturing capabilities to serve future-forward industries effectively.
[1] Lati Industria Termoplastici S.p.A. Press Release, 12 June 2025. [2] Loxim Industries Limited Press Release, 12 June 2025. [3] Cyril Amarchand Mangaldas Press Release, 12 June 2025. [4] HEUSSEN Studio Legale e Tributario Press Release, 12 June 2025. [5] Business Standard, "LATI and Loxim Form Strategic Joint Venture," 12 June 2025.
- This partnership between LATI and Loxim combines the European manufacturer's finance and technological expertise in high-performance technopolymers with Loxim's local finance and manufacturing capabilities, particularly in the automotive and electrical industries in India.
- The joint venture, LATI-LOXIM Thermoplastics Private Limited, is expected to not only strengthen their combined presence in the growing Indian market for engineering plastics but also support growth for multinational clients, positioning the new company as a key supplier for emerging industries within India, thereby integrating the finance, business, and manufacturing sectors.
