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

Blow molding machinery maker opens first plant in Taiwan

October 1, 2014 1:27 pm ET

Taiwanese equipment maker Kin Precision Industry Co. Ltd. has opened a 2,000-square-meter, 25-employee factory in Taichung, Taiwan, with an eye to...    More

Image

Global Plastics Summit puts PE prices in the spotlight

October 1, 2014 3:17 pm ET

Product manufacturers may start to shift away from polyethylene because of high prices, according to two major plastics processors.    More

Image

Nucleation offers solution to shrinkage in HDPE closures

October 1, 2014 1:57 pm ET

For caps producers, nucleation can provide a practical solution to eliminate shrinkage variations in high density polyethylene beverage closures....    More

Image

Dow loses appeal in price fixing case

October 1, 2014 11:10 am ET

The Reuters press agency reports that a federal appeals court in Denver has rejected Dow Chemical Co.'s attempt to overturn a $1.06 billion fine...    More

Image

New Hexcel plant will supply carbon fiber for Airbus A350 XWB

September 30, 2014 2:43 pm ET

Hexcel Corp. is investing $250 million on a new carbon fiber plant in France, with part of the production going into the future Airbus SAS A350 XWB.    More

Market Reports

Plastics in Mexico - State of the Industry Report

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

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

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

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

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

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

More Events