Home breadcru News breadcru Company breadcru Huntsman to pump in Rs45 cr

Huntsman to pump in Rs45 cr

27 Jun '06
1 min read

A press conference was organized to launch new range of epoxy-based adhesives Araldite Karpenter and Araldite Builder for the construction industry by Huntsman Advanced Materials (India) Ltd. at Chennai recently.

Gorm Jensen, Vice-President, Advanced Materials, Huntsman, stated that investment would be made of over US $10 million (about Rs45 crores) in coming years to expand the production capacity of Petro Araldite Pvt Ltd, a joint venture subsidiary in Chennai.

The Chennai plant was started with an objective of making it a global sourcing point and produce new products for China and West Asia.

Huntsman exports 20 percent of its production to the US, West Asia, Europe and Asia Pacific and reported a turnover of Rs.220 crores, of which exports accounted for Rs.40 crores.

Jensen reported that India and West Asia offered huge potential due to boom in the construction industry.

Huntsman Advance Material India, Headquartered in Mumbai is engaged in specialty chemicals business catering to construction, automobile, paints and adhesive segments.

It also trades in polyurethane's, performance products, pigments and textile effects.

The total turnover of its businesses in the country is around Rs1000 crores.

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