Solvay expanding in India

By Satnam Singh
Correspondent

Published: January 7, 2014 10:08 am ET
Updated: January 7, 2014 11:10 am ET

Related to this story

Topics Materials, Materials Suppliers, Asia
Companies & Associations Solvay SA

MUMBAI, INDIA — Belgian based chemical company Solvay SA is rapidly expanding in India as part of its global strategy of growing in the emerging economies.

India subsidiary Solvay Speciality India Pvt. Ltd. generated sales of around 227 million euros in 2013. "We are targeting to become double in size by 2016," said R. Prakash, the unit's managing director, at the Plastivision 2013 trade show in Mumbai.

Solvay opened a global R&D center in Saveli in the middle of 2012, which focuses on primary research and application development. It currently employs 50, and Solvay plans to increase that to 200 in the next three years.

Currently Solvay has more than 800 employees at eight facilities in India, including the R&D center. The manufacturing plants make specialty polymers, engineering plastics, surfactants and chemicals. Solvay is looking for organic and inorganic growth in India, with M&A efforts focused, in part, on specialty polymers.


Comments

Solvay expanding in India

By Satnam Singh
Correspondent

Published: January 7, 2014 10:08 am ET
Updated: January 7, 2014 11:10 am ET

Post Your Comments


Back to story


More stories

Image

EPA fines RI polymer company

August 29, 2014 1:20 pm ET

A Rhode Island polymer manufacturer has reached a $60,000 settlement with the U.S. Environmental Protection Agency (EPA) for violating federal clean...    More

Image

Haitian's standardization efforts paying off

August 29, 2014 9:53 am ET

Streamlined design efforts and robust export sales helped propel Ningbo, China-based injection molding machine manufacturer Haitian International...    More

Image

Chinese compounders seek market shares, often at the expense of margins

August 29, 2014 10:02 am ET

China's largest compounder, Kingfa Sci. & Tech. Co. Ltd., as well as its more automotive-focused counterparts Shanghai Pret Composites Co. Ltd. and...    More

Image

PP prices rise 5 cents

August 28, 2014 3:59 pm ET

After a one-month break, volatility has returned to the North American polypropylene resin market, with prices increasing by an average of 5 cents...    More

Image

DuPont fined for 2010 chemicals release

August 28, 2014 1:37 pm ET

DuPont Co. has been fined almost $1.3 million for the release of several chemicals — including plastics feedstock phosgene — at its plant ...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events