Henkel Adhesive Technologies India, a unit of German consumer giant Henkel, will invest €30m to establish a new adhesives manufacturing plant in Kurkumbh, in the state of Maharashtra.
Being built in phases, the plant will initially have a 20,000m² operational area in Phase I.
Expected to become operational by 2017, the plant will be capable of producing 80,000t of adhesives and surface treatment products annually.
The adhesives manufactured at the plant will cater to customers in consumer packaging and chemicals industry.
Henkel Group India president Jeremy Hunter said: "This 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."
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By GlobalDataSaid to be the company’s tenth in India, the plant forms a part of Henkel’s strategy to bolster its presence in emerging markets with focused investments across the globe. It is also the company’s largest adhesive plant in India.
The company is said to own a 40% market share in the Indian adhesives market, with plans to grow its market share at the rate between 10% and 15% a year and post net sales of €10bn by 2016-end.
The plant will be LEED-certified by the Indian Green Building Council (IGBC) and will be compliant to the highest safety, health & environment standards.
