PCBL Chemical Ltd has established a wholly owned subsidiary in the United States as part of its strategy to expand its global footprint and strengthen its position in the North American market, the company said in a regulatory filing on Monday.

The new entity, PCBL Chemical USA Inc, has been incorporated under the laws of Delaware and is expected to provide strategic access to key markets, ensure closer proximity to customers, and offer greater insight into the region’s regulatory and incentive frameworks.

According to the RP-Sanjiv Goenka Group firm, localising supply chains for carbon black and speciality chemicals is a critical step in reinforcing PCBL’s status as a global player. Earlier this month, PCBL subsidiary Nanovace Technologies Ltd secured a US patent for its proprietary nanomaterial method used in next-generation energy storage technologies.

For the quarter ended 30 June, PCBL Chemical Ltd reported a 19.7 per cent year-on-year decline in consolidated net profit to Rs 940 million, down from Rs 1.179 billion in the same quarter last year. Revenue from operations dipped slightly to Rs 21.14 billion from Rs 21.43 billion.