Modi Enterprises Group company Indofil Industries Ltd, a Rs 2,500 crore giant in crop protection and speciality chemicals, has announced a joint venture with Italy-based Reagens, a world's leading polymer additives manufacturer with a turnover of 230 million euros.
Indo-Reagens Polymer Additives will start manufacturing green stabiliser range from a facility at Ankaleshwar in Bharuch district of Gujarat. The company will begin offering speciality additives from Reagens units in Europe from April 1.
The joint venture will build a new plant in Gujarat Industrial Development Corporation's Special Economic Zone in Dahej to offer all green polymer additives to the Indian polymer processing industry.
"Both companies have complementary strengths which can be leveraged to bring sustainable solutions and products used in PVC and CPVC polymers," said Indofil's Chairman and Managing Director K K Modi. "We hope to combine our expertise and talent and take the JV to its best potential."
Reagens Chairman Ettore Nanni said the companies will bring together unique assets, deep technical expertise as well as the ability to identify, scale and customise solutions. We will work to bring cost-effective and sustainable solutions in the heat stabilisers market.
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