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Henkel Adhesive Technologies India, a fully owned subsidiary of German consumer major Henkel today said it will invest 30 million euro (Rs 216 crore) to set up India's largest adhesives plant in Kurkumbh, near Pune.
The new plant is expected to start production by early 2017 and it will cater to end user segments such as automotive, metal and industrial sectors.
The Kurkumbh plant is being built in a phased manner. In the first phase the manufacturing facility will be operational with an annual capacity of 80,000 metric tonnes of adhesives and surface treatments. The investment will further support Henkel's global strategy to increase sales and business growth in emerging markets.
"The Kurkumbh plant will enable us to localise our product portfolio and reduce imports while bringing the best global technology to India. Considering the proximity of the plant to our customers, it will also help us to work closely with them in developing solutions. We are aiming to win a greater market share in India, which is one of the biggest emerging markets for us," Jeremy Hunter, President Henkel Group India said.
Henkel aims to continue achieving above-average growth in emerging markets and to generate net sales of 10 billion euros there by the end of 2016. Henkel already has nine plants for adhesives across various locations in India.
