Praana Group Advances Strategic Expansion with Appointment of Darpan Parikh

Praana Group Appoints Darpan Parikh as Board Member of Praana Group and CEO of Galata Chemicals Amid Strategic Global Expansion

MUMBAI, India and JERSEY CITY, N.J., Feb. 17, 2026 /PRNewswire/ -- Praana Group, a diversified conglomerate with businesses spanning specialty chemicals and fiberglass, and Galata Chemicals, a global leader in specialty additives and performance chemicals, have announced the appointment of Darpan Parikh as the Member of their Board and Chief Executive Officer of Galata Chemicals. This appointment marks an important milestone in the Group's continued evolution as a globally integrated specialty chemicals and advanced materials platform.

Parikh brings extensive global leadership experience of more than 25 years across strategy, commercial transformation, product portfolio management, and supply chain excellence. He joins Galata following senior leadership roles at SABIC and General Electric, where he led global sales and supply chain organizations and drove operational performance across complex international businesses. He holds an MBA and a Master's degree in Plastics Engineering.

As CEO, Parikh will lead Galata Chemicals' global growth strategy, strengthening its position in specialty and performance additives for coatings, PVC, engineering plastics, and industrial markets. His mandate includes driving operational excellence, portfolio expansion, and deeper customer engagement across Galata's international footprint. As a Member of the Board of Praana Group, he will contribute to the strategic direction of the Group's diversified specialty chemicals and fiberglass businesses, supporting integration initiatives and long-term value creation across the enterprise.

"Darpan's global experience, strategic mindset, and commitment to building high-performance teams align perfectly with our vision for innovation-led expansion for Praana," said Mr. Vishal Goenka, Vice Chairman of Praana Group.

Commenting on his appointment, Parikh said, "I am pleased to join Galata Chemicals and Praana Group and look forward to building on the company's strong foundation to drive disciplined growth and operational focus."

This leadership appointment reinforces Praana Group's commitment to strengthening its global specialty chemicals platform while preserving its legacy of quality, governance, and innovation built over nearly seven decades.

About Praana

Established in 1956, Praana is an India-based multinational with a global manufacturing footprint spanning Sterling Specialty Chemicals, Galata Chemicals, Artek Surfin Chemicals, and 3B Fibreglass. In 2025, Praana entered into the following definitive agreements:
(i) with Owens Corning to acquire its glass reinforcements business, further enhancing its global advanced materials platform and reinforcing its strategy of disciplined, integration-led growth across international markets.
(ii) with Halliburton for the proposed acquisition of a portion of its Multi-Chem business, expanding its specialty chemicals capabilities across energy and industrial markets.
(iii) with Arkema for the proposed acquisition of the Vlissingen production facility in the Netherlands and related plastic additives businesses, including MBS copolymers and acrylic impact modifiers, thereby strengthening Galata's specialty additives platform.

For more information, contact:
India Corporate Office
Name: Deepa Viswanath
Email: deepa.viswanath@praana.com

US
Name: Anthony Brown
Email: anthony.brown@galatachemicals.com

Europe
Name: Gülşah Yazicioglu Kun
Email: gulsah.kun@galatachemicals.com

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