Page 138 - CW E-Magazine (17-6-2025)

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cellor, ICT, highlighted Prof. Sharma’s
steadfast commitment to UDCT/ICT
all his life. “He has declined everything
that was offered to him – whether it’s
Chairmanship of the University Grants
Commission (UGC), post of Secre-
tary at the Department of Science and
Technology (DST), or Directorship of
the Council of Scientifi c and Industrial
Research (CSIR) – and chosen to be a
professor all along.”

Prof. S. S. Bhagwat, Director,
Indian Institute of Science Education
and Research (IISER), Pune, touched
upon Prof. Sharma’s sharp insights into
the chemical and allied industries, and Mumbai who helped out in the initial “I’m really grateful to all my collabora-
ongoing research in diverse disciplines years at UDCT; stalwarts like Prof. tors and my institution. Whatever I’ve
from around the world. G.P. Kane and Prof. G.M. Nabar who achieved is all because of UDCT/ICT
provided guidance and counsel; Prof. and my family….. I’m a very happy
Personal tributes were paid by Prof. Danckwerts at Cambridge; and many person and have had a fulfi lling life.
Sharma’s children – Vibhu Sharma and others from industry and academia who What more can you ask for?”
Prerna Sharma. stayed friends for over 70 years.
In his Vote of Thanks, Prof. A.B.
‘A fulfi lling life’ Prof. Sharma had a special appreci- Pandit, Vice Chancellor, ICT, reiterated
In his response, Prof. Sharma ation for all his students, many of who Prof. Sharma’s qualities of integrity,
thanked the many people who were have gone on to make singular contri- ethics, and leadership that have taken
instrumental in shaping his life – his butions in teaching, research and impact- ICT to its present status, and reiterated
mother, who sold her jewellery to fund ful industrial consulting, and received that the institute would continue to bene-
his early education; philanthropists in national and international recognition. fi t from his counsel.

CHANGE OF HANDS
DyStar transitions to full ownership by Zhejiang

Longsheng Group

DyStar, a leading specialty chemi- controlling shareholder with 62.43% and other customary conditions with an
cal company, has announced that its of DyStar, Zhejiang Longsheng anticipated closing date no later than
major shareholder, Zhejiang Longs- Group’s strategic acquisition of the November 3, 2025.
heng Group Co., Ltd. has entered into a outstanding shares will result in
Share Purchase Agreement to acquire DyStar becoming a wholly-owned “We are delighted with the conclu-
37.57% of issued shares in DyStar subsidiary. This transaction resolves sive resolution of the dispute, which
Global Holdings (Singapore) Pte. Ltd., the long-standing litigation with Kiri enables DyStar Group to move forward
previously held by Ahmedabad-based Industries, thereby avoiding a full with certainty, confi dence, and renewed
Kiri Industries Ltd. sale of DyStar. strategic focus. This marks a signifi cant
milestone in our 30-year journey as it
The acquisition follows a ruling The total consideration is valued at reinforces our long-term stability and
by the Singapore International Com- $696.5478-mn, subject to adjustments commitment to our global stakeholders,”
mercial Court (SICC) mandating the on or after the closing date. Completion Mr. Xu Yalin, Managing Director, and
sale of 100% of DyStar’s equity. As is contingent upon regulatory approvals President of DyStar Group said.

138 Chemical Weekly June 17, 2025

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