ITASCA, Ill.--(BUSINESS WIRE)--ICP Industrial Solutions Group (ISG) announces the start of its manufacturing expansion in Bhiwadi, India, a continuation of ICP’s global strategic growth plan. An agreement was signed in October for the manufacturing site in the RIICO Industrial Area.
Ideally located in the city of Bhiwadi, Rajasthan, ICP has begun site preparation for the manufacturing and distribution of locally made ICP products. It is anticipated that the new manufacturing plant will be producing high-performance packaging coatings by March 2022.
In 2018, ICP launched its global growth plan with the employment of a local experienced team. The objective of this new team, supported by ICP’s global resources, was to better serve the emerging packaging market in India. In 2019, an Indian entity was established along with strategic partnerships with select customers and distributors in New Delhi and Mumbai. This further facilitated local supply of product to the expanding business. The continued growth and demand for ICP’s high-quality, innovative, high-performance coatings, which includes an increase in specialty product applications within the Indian market, strengthened the decision to manufacture ICP coatings locally in India.
“Building a manufacturing facility in India is part of ICP’s strategic global growth plan to better serve our customers with innovative solutions worldwide,” said Paul Grzebielucha, division president of ICP. The new facility affords the Industrial Solutions Group additional production capacity, manufacturing efficiencies, improved raw material sourcing and a further diversified portfolio of products. India and surrounding international customers will benefit greatly with shortened delivery times, expanded inventory, best-in-class expertise in technical service and industry-leading customer service.
About ICP Industrial Solutions Group
ICP Industrial Solutions Group (ISG) combines three market-leading technology companies to form a high-performance portfolio of aqueous, energy-cured, silicone, specialty coating and adhesive technologies. The strength of the technology group leads the way with innovative, customized products, superior customer service and outstanding quality. For more information, visit www.icpindustrial.com.
About ICP Group
Innovative Chemical Products (ICP Group) is a leading specialty chemical manufacturer in North America and provides coatings, adhesives and sealants globally. With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world, ICP Group serves multiple end markets, including building materials, specialty construction, industrial, packaging, printing and sports surfaces. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.
ICP Group is a portfolio company of Audax Private Equity.