Modi Enterprises Group company Indofil Industries Ltd, a Re 2500 cr giant in crop protection and specialty chemicals has announced its Joint Venture with world’s leading polymer additives manufacturing company, Italy-based Reagens, with a consolidated group turnover of Euro 230 million.
The new venture, Indo-Reagens Polymer Additives Pvt Ltd will start manufacturing and offering Green Stabilizer range from their unit at Ankaleshwar. The venture will also begin offering state-of-the-art specialty additives from Reagens units in Europe from 1st April 2019. The JV will also be constructing a new a state-of-art technology plant in Gujarat Industrial Development Corporation’s Special Economic Zone in Dahej in 2019 to offer all green polymer additives to the Indian Polymer processing industry.
It was also announced that the JV will offer technical support and services from its regional application laboratory centres based at Thane and Delhi, supplemented by support from existing Reagens’ facilities.
K K Modi, Chairman & Managing Director – Indofil Industries Ltd and Chairman – Modi Enterprises said, “We are very excited about this partnership with Reagens. Both companies have complementary strengths which can be leveraged to bring sustainable solutions and products used in PVC and CPVC polymers. We hope to combine our expertise and talent and take the JV to its best potential”.
PVC and CPVC are the major thermoplastic polymers in India by quantity. Key applications include pipes and fittings (hot and cold), wire and cable, cellular and window profiles, medical compounds, and calendaring sheet applications. While industrialisation, emphasis on infrastructure, rapid urbanization and boost in agriculture sector has contributed to the spurt in demand for PVC, the production has not been in sync.