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German major in chemical building blocks, fine and specialty chemicals, CABB, plans to introduce new technology to produce high quality monochloroacetic acid (MCA) and sodium monochloroacetic acid (SMCA) with focus on the Asian market.
This was announced by CABB CEO Martin Wienkenhover who was in Ahmedabad on occasion of completion of five years of its joint venture with city-based Karnavati Rasayan Ltd. The JV called CABB Karnavati Rasayan Ltd has two manufacturing plants in Ahmedabad having a combined installed capacity of 22,000 MTPA (million tonne per annum) of MCA. It also claims to the largest exporter of MCA and SMCA in Asia. CABB, leading German chemical major had acquired 76 per cent stake in Karnavati Rasayan Ltd in April 2008.
“Having decided to expand capacity and produce high-quality MCA for the emerging Indian market, as a leading multinational company operating in Asia. We are engaged in developing the Indian market for high-end applications. We recently launched KARNA, a multi-million dollar investment project run by a team of experts from Germany and India. The resulting new technology will enable us to produce consistently high-quality MCA and SMCA. KARNA will be completed by the end of 2013,” said Uwe Brunk, General Manager of the CABB Group’s Acetyls Business Unit.
For the technology upgradation the company plans to invest Rs 15 crore.
“Over the last five years, Karnavati Rasayan Ltd. has been transformed into a multinational organisation. Being a part of CABB has helped our organisation to improve in multiple ways. The next growth market is Asia ,” said Kiritkumar Gajera, Managing Director of CABB Karnavati Rasayan Ltd.
