Manali Petrochemicals Ltd has commenced the production of high performance polyurethanes at the facilities owned by its subsidiary Notedome Ltd here, the company said Tuesday.
City-based Manali Petrochemicals Ltd acquired Notedome Ltd, United Kingdom through its overseas subsidiaries in September 2016 for an 'undisclosed sum.'
MPL, the parent of Notedome, has commenced production of the products at its facilities in Chennai this month. The production would serve the South East Asian markets, a company statement said.
The synergy with Manali Petrochemicals Ltd has not only allowed Notedome to tap into the robust growoth in the polyurethane industry in Asia, it has a created a natural fit within their value chain, the statement said
Notedome currently holds a market share of 15 per cent in the Asian market.
"The physical presence of MPL in the region for over three decades has paved the way for closer proximity to existing and new Asian customers, easer access to raw materials at lower costs and faster turn around times," it added.
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