MUMBAI, INDIA (May 3, 4 p.m. ET) — Three decade old Aksoy Plastik A.S. is preparing to take a plunge into the Indian plastics market. The Istanbul-based supplier of coloring solution and specialty additives in masterbatch form would likely to set up production base in India to take advantage of the growing PVC market.
“We may set up production facility in the next two years,” said President and Managing Director Selcuk Aksoy, in an interview at Vinyl India in Mumbai.
The Turkish company's distribution network spreads all over Eastern Europe, Iran, Syria, Egypt and the Middle East.
The company also participated in the recent Plastindia trade show.
“We have seen the Indian companies shown keen interest in cooperating with us. Initially, we are looking for a right partner to set up a distribution channel in India followed by setting up a base,” Aksoy said.
The company makes about 8,000 metric tons of color and additives annually, and about 40 percent is exported.
“We would only manufacture additives in India. We would not manufacture coloring solutions as they are highly specialized and we don't think we could do that in India,” he said.