Gujarat Petrosynthese Limited, founded in 1977 by R M Thakkar, specializes in the production of plastic polymers and blends. Over the years, the company has undergone significant expansions and strategic transformations. In 1990, it diversified into the shipping sector with the acquisition of a chemical carrier. By 1995, it had entered a joint venture with the Karnataka State Industrial Investment and Development Corporation and China's National Chemical Construction Corporation to produce polymer blends in Bangalore, marking its foray into import substitution.
The venture, Karnataka Petrosynthese Ltd., began operations in 1996-97 and was later integrated into Gujarat Petrosynthese in 2001, forming its Polymer Blends and Alloys Division. The company has focused on restructuring and strategic alliances, such as with Indian Petrochemicals Corporation, to adapt to market liberalization. It divested its Polybutene Division in 2005, transferring it to its subsidiary, Gujarat Polybutenes Pvt. Ltd., which was later merged back into the parent company in 2020, showcasing a cycle of integration and consolidation in its business strategy.
