Journalism of Courage
US-based Reichhold Industries Inc,a producer of unsaturated polyester resin,announced here on Thursday the launch of its manufacturing facility in India at Ranjangaon with an investment of $20 million.
The facility will have a production capacity of 13,200 MT. The company will initially focus on manufacturing UPR resins for wind,GRP pipe,chemical equipment,automobile and general-purpose sectors.
Addressing a press conference,John Gaither,chairman and CEO,Reichhold,said that with establishment of the new plant,the company targets 10 per cent market share in India.
We have closely assessed the Indian resins market over the last few years. India’s vibrant market and growth path in the given time frame are inspiring. As a global player,we want to be part of this growth by bringing international quality products to match local needs. We look forward to bringing our global expertise and best practices here. With this plant,we will further strengthen our offerings.
The company initially plans to cater to the existing global customers who have presence in India. “We are also in talks with Indian companies. Our main focus will be on the windmill sector,” he added.
Roger Willis,managing director,Reichhold India said the company was impressed with the flexibility and potential for establishment that Pune offers. In the long-term,we will see many new products being rolled out of our Pune facility. India is a key market for Reichhold and we will eventually look at additional investments, he said.
