DSM & Kemrock to invest $25mil in manufacturing JV for specialty resins in Pune |
Written by Vivek | |
Thursday, 03 March 2011 | |
Vadodra: DSM, the largest producer of structural resins in Europe, and Kemrock Industries and Exports Ltd, a manufacturer of FRP and composites in India, will together invest USD 25 million in a joint venture for the production of specialty composite resins in India. DSM will hold 51% and Kemrock 49% in a joint venture, which will be based in Pune. In addition to the joint venture, DSM will establish its own local marketing and sales company for composite resins to serve the Indian domestic market. DSM will focus on the supply of innovative specialized composite resin solutions to the fast growing Indian market while Kemrock will concentrate on the production of high end composite parts. The joint venture company will be known as DSM Kemrock India. In the first phase, the new plant will have a capacity of 25,000 tonnes (conservative estimate) of composite materials per annum. DSM Kemrock India expects revenues of nearly $50-million from the Indian market by 2015. Netherlands-based DSM Composite Resins started its operations in India in 2001. The company, currently earning revenues totalling $250 million from the Indian market, is targeting 2-3 times growth over the next five years. According to Kalpesh Patel, Chairman and Managing Director of Kemrock, the joint venture will help strengthen the company's expertise in composite manufacturing. |
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Last Updated ( Friday, 04 March 2011 ) |