Axiall forms joint venture in India for PVC compounds

By Satnam Singh
Correspondent

Published: May 13, 2014 2:54 pm ET
Updated: May 13, 2014 2:58 pm ET

Image By: Satnam Singh Kevin A. Skrada, general manager international, left, with Ajay S. Shriram, chairman and senior managing director DCM Shriram Ltd. at the Vinyl India conference in Mumbai.

Related to this story

Topics Materials, Materials Suppliers, Asia

MUMBAI, INDIA — India’s diversified conglomerate DCM Shriram Consolidated Ltd. and Atlanta-based Axiall Corp. LLC have kicked off a PVC compounding joint venture.

The 50/50 joint venture is operating from Shriram’s Kota, India, plant, which manufactures chemicals including PVC resin. Axiall picked up a 50 percent stake in the Shriram Vinyl Polytech subsidiary.

Kevin Skrada, general manager international for Axiall, said the company was scouting for a partner in India for quite some time.

“Shriram is a compounder and a 120-year-old company with a respectable brand image that would give us an ideal platform to kick-start in this growing market,” he said.

Axiall will pump in about $6 million in the venture to introduce new technologies to serve customers in markets including household appliances, pipe and fittings, he said.

“Initially, we bring the products from our North American [operations] and start manufacturing the same in India over a period of time,” he said.

India’s PVC market is currently around 100 million pounds, and growing at a double-digit pace. Axiall believes that India’s emerging middle class needs infrastructure, cars and housing, which will support growth.

“Initially, the focus [of the joint venture] remains on developing the market in India, [but] it would be followed by servicing the adjoining markets. India is ideally located and Asian and African markets would be served from here,” Skrada said.

DCM Shriram is a diversified company with business in agriculture, chemicals, plastics, cement, textiles and energy services. DCM Shriram transferred its PVC compounding business to Shriram Vinyl last year.


Comments

Axiall forms joint venture in India for PVC compounds

By Satnam Singh
Correspondent

Published: May 13, 2014 2:54 pm ET
Updated: May 13, 2014 2:58 pm ET

Post Your Comments


Back to story


More stories

Image

Polypropylene prices rise, while PE and PS fall

February 26, 2015 4:01 pm ET

North American prices for polyethylene and polystyrene resins continued to fall in February, while regional prices for polypropylene showed a...    More

Image

Price and sustainability both key to success for carpet recycler

February 26, 2015 1:28 pm ET

DALLAS — A green message will get you in the door, but ultimately that sustainability message has to be backed up with quality at the right...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Image

Medical compounder adding two extrusion lines

February 25, 2015 3:49 pm ET

Compounding Solutions LLC plans to add two new co-rotating twin-screw extruders this year to raise its capacity and provide more flexibility.    More

Image

Solvay building PEEK unit in Georgia

February 24, 2015 8:36 am ET

Solvay SA is building a polyether etherketone resin plant in Augusta, Ga. The unit will be the company's second PEEK plant — the Brussels, Belgi...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events