Singapore-listed agribusiness group Wilmar International and Switzerland-headquartered specialty chemicals firm Clariant International have received the relevant merger clearances to set up a joint venture to produce and trade amines.

The 50-50 global animes venture will serve as the global platform for production and sales of fatty amines and selected amines derivatives, the two companies said in a joint release on Monday morning.

It will be headquartered in Singapore with global sales, distribution and production affiliates.

The venture will have own production capacities for amines in Germany and China, contributed by Clariant and Wilmar respectively, as well as access to amines capacities in Brazil and Mexico, the companies said.

For amine derivatives, the global amines company will have access to around a dozen of Clariant's multi-purpose-plants all around the globe.

"Leveraging on the global reach and the individual strengths of Wilmar and Clariant, the global amines company will seek significant growth opportunities - in particular, in the markets of industrial home care and personal care," the companies added.

"The combination of Wilmar's integrated agribusiness model based on renewable materials and its strong position in oleochemicals with Clariant's technical experience and market presence in the downstream amines and derivative sector will position the global amines company as the first fully integrated and competitive player along the value chain of amines," said Mr Stephan Lynen, general manager of the global amines company, which is now in operation.