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BASF, Chatterjee group to sell polystyrene in India
Our Corporate Bureau
Mumbai, Nov 8: BASF Aktlengesellschaft, Ludwigshafen, Germany, and the Chatterjee group, New York, have formed a strategic alliance to manufacture and sell polystyrene in India. BASF will hold a majority stake in the alliance and will assume the operational as well as management control of Pushpa Polymers Pvt Ltd (PPPL), a Chatterjee group release said. PPPL, with a capacity of 60,000 tonnes in polystyrene, is located at Dahej, Gujarat, and will benefit BASF by way of its close proximity to land and sea, the release said. BASF, with a worldwide capacity of 1.5 million tonnes polystyrene per year, will be the first global polystyrene manufacturer operating in India. Head of styrenic polymers division of BASF, Dr Werner Pratorius, said, "We will build up a strong and profitable position in one of the most important growth markets for polystyrene in Asia."BASF's products range from rigid and transparent general purpose plastics to high impact-resistant grades that customers transform using injection moulding, extrusion and blow moulding technology. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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