The four million euros investment will increase capacity by 80 per cent, and will provide a platform to meet growing demand from customers in India and the Middle East, the company said in a statement.
AkzoNobel Specialty Chemicals today said it will invest four million euros (around Rs 32 crore) in expanding and upgrading its organic peroxides plant at Mahad in Maharashtra. The four million euros investment will increase capacity by 80 per cent, and will provide a platform to meet growing demand from customers in India and the Middle East, the company said in a statement. The expansion is expected to be completed by the end of 2018, it added. “This is the latest in a series of organic peroxide investments to better serve our customers by upgrading technologies and increasing production capacity,” said Johan Landfors, member of the executive committee responsible for polymer chemicals at AkzoNobel Specialty Chemicals.
“This expansion will allow us to build on our strong presence in numerous organic peroxide market segments, particularly in PVC, acrylics and thermoset resins,” he added. Organic peroxides are essential for the manufacture of a wide range of polymer-based products including athletic shoe soles, wind turbines and PVC pipes used in the construction industry.
Werner Fuhrmann, chief executive officer of AkzoNobel Specialty Chemicals, said that the latest project demonstrates the company’s commitment to the Indian market and supports the country’s efforts to strengthen its manufacturing sector through increased investment from global organisations. The company is also investing in a monochloroacetic acid project in a joint arrangement with Atul in Gujarat, due to start production in 2019, Fuhrmann said.
Over the last three years, the polymer chemistry business of the company has invested more than 100 million euro to better serve its customers in the polymer industry, the release said.