DSM Engg to invest $20 m for Pune plant

Pune, Mar 29 | Updated: Mar 30 2007, 07:34am hrs
Royal DSM N.V, a $11 billion company, after testing waters in India for seven years is setting up its own facility in Pune with an investment of $20 million for manufacturing engineering plastics.

Roelof Westerbeek, president of DSM Engineering Plastics Asia Pacific said that the goal in India was to reach a turnover of $300 million in three years. This was part of the companys vision to increase its presence in emerging economies and accelerate sales in China and India. China is expected to double business to $1billion by 2010.

DSM is into nutritional and pharma ingredients, performance materials and industrial chemicals. The new plant in Pune at Ranjangaon is for manufacturing engineering plastic compounds that go into making key molded components for automotive, electrical and electronics, consumer and industrial segments. Engineering plastics is a $2.3 billion industry globally.