COLOMBES, France--(BUSINESS WIRE)--Regulatory News:
Arkema (Paris:AKE) announced today plans to construct a new leading class polyester powder resin manufacturing facility, the first of its kind in India, on its existing resin platform in Navi Mumbai, Maharashtra. The project, which represents an investment of approximately $US 15M and is targeted for completion in 2018, includes a new manufacturing unit and a dedicated new laboratory to provide both application development and technical support. The new facility will support customers in the fast growing powder coating market.
“Offering increasingly environmental-friendly solutions with low-VOC content, resins for powder coatings is an important and growing part of our product portfolio,” said Richard Jenkins, global group president for the coating resins business. “This new facility will complement our existing manufacturing sites in Europe and North America, and underpins our commitment to meet our customers’ needs wherever they operate around the world.”
The new facility will produce polyester powder resins marketed under the REAFREE® trade name. The principal use for polyester powder coatings includes a wide range of industrial coatings along with automotive and architectural applications.
This investment supports Arkema’s ambition to expanding its geographical coverage of its environmentally friendly, low-VOC (Volatile Organic Compound) coating resins portfolio, including powder resins, waterborne resins, UV photocure and high solid solutions, as well as high performance coating additives.
Arkema’s manufacturing site in Navi Mumbai also produces alkyd, acrylic solutions and oil-free polyester resins, as well as reactive polyamide resins. The investment in upgrading the capabilities of its Indian production facility is part of the ongoing commitment of the Group to remain a leading and global supplier to the coating industry while at the same time providing customers with all of the benefits of cutting edge technology, locally manufactured with strong technical support.
REAFREE® is a registered trademark of Arkema Inc.
A designer of materials and innovative solutions, Arkema shapes materials and creates new uses that accelerate customer performance. Our balanced business portfolio spans high-performance materials, industrial specialties and coating solutions. Our globally recognized brands are ranked among the leaders in the markets we serve. Reporting annual sales of €7.7 billion in 2015, we employ approximately 19,000 people worldwide and operate in close to 50 countries. We are committed to active engagement with all our stakeholders. Our research centers in North America, France and Asia concentrate on advances in bio-based products, new energies, water management, electronic solutions, lightweight materials and design, home efficiency and insulation. www.arkema.com
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Tel.: +33 1 49 00 80 80 – Fax: +33 1 49 00 83 96
A French société anonyme (limited company) with share capital of €754,701,730 – Registered in Nanterre: RCS 445 074 685