DSM announces partnership for specialty resins with Kemrock Industries in India
Royal DSM announced that it will start a partnership with Kemrock Industries in India for the production of specialty composite resins in India. DSM and Kemrock together will invest USD 25 million in the joint venture.
With this partnership DSM, one of the leading composite resins providers in the world, will structurally strengthen its presence in India and leverage its depth of technological knowledge and global customer relationships. Both partners will utilize and leverage each other's strengths whereby DSM will focus on the supply of innovative specialized composite resin solutions to the fast growing Indian market while Kemrock will concentrate on the production of high end composite parts.
DSM will hold 51% and Kemrock 49% in a joint venture, which will be based in Pune. In addition to the joint venture, DSM will establish its own local marketing and sales company for composite resins to serve the Indian domestic market.
Nico Gerardu, Member of the DSM Managing Board and responsible for the Performance Materials cluster, said: "This joint venture fits with all four growth drivers of our strategy DSM in motion: driving focused growth and provides an excellent opportunity to further grow our composite resins business in India. In addition, this joint venture re-confirms our longstanding commitment to India, a country that has become an important market for DSM."
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