NEW DELHI (Feb. 15, 2:15 p.m. ET) — One of India's largest masterbatch suppliers, Alok Masterbatches Ltd., plans to establish a joint venture manufacturing plant in an unspecified Latin America country, as well as expand its production for specialty additives and compounds by 20 percent.
The New Delhi-based company is in the “advanced stages” of negotiating with the Latin American partner and would like to be set up there by next year, said Amit Kumar Singh, business development manager, in an interview at the Plastindia trade show, held Feb. 1-6 in New Delhi. He declined to name the country.
The company also said it plans to expand capacity at each of its four factories – two in Delhi, one in Bhiwadi and one in Dadra, near Mumbai.
“We are expanding capacities of specialty additives and compounds at all four locations by about 20 percent to meet the growing demand in the Indian market,” Singh said.
The company has total production capacity of 110.2 million pounds. Its largest factory, in Dadra, is export-oriented, with annual production capacity of 79.3 million pounds, with its exports going to Europe, the Americas, Southeast Asia and the countries of the former Soviet Union.
It provides color, additive, filler, black and white masterbatches, along with color development services, specialty additives and ultraviolet masterbatches.