Royal DSM, the global Life Sciences and Materials Sciences company, today announces that it will start a partnership with Kemrock Industries in India for the production of specialty composite resins in India. DSM and Kemrock together will invest USD 25 million in the joint venture.
With this partnership DSM, one of the leading composite resins providers in the world, will structurally strengthen its presence in India and leverage its depth of technological knowledge and global customer relationships. Both partners will utilize and leverage each other's strengths whereby DSM will focus on the supply of innovative specialized composite resin solutions to the fast growing Indian market while Kemrock will concentrate on the production of high end composite parts.
DSM will hold 51% and Kemrock 49% in a joint venture, which will be based in Pune. In addition to the joint venture, DSM will establish its own local marketing and sales company for composite resins to serve the Indian domestic market.
Nico Gerardu, Member of the DSM Managing Board and responsible for the Performance Materials cluster, said: "This joint venture fits with all four growth drivers of our strategy DSM in motion: driving focused growth and provides an excellent opportunity to further grow our composite resins business in India. In addition, this joint venture re-confirms our longstanding commitment to India, a country that has become an important market for DSM."
Michael Effing, President DSM Composite Resins, added: "We are excited to start working with Kemrock Industries, a well-known and highly respected partner and market leader in India in composite parts. We are convinced that our joint venture will play an important role in the fast growing market for composites in India, as the number of applications and markets continues to grow. Our composite resins for instance do not only increase the yield of wind turbines, they can also replace metal in automotive applications."
Composite resins (unsaturated polyester resins, including vinyl esters and additives) are used in the production of fiber reinforced plastics or non-reinforced filled products. Due to the ease and freedom of processing, unsaturated polyester resins can be applied in the manufacturing of small and very large structures. Composite resins are well known in applications in marine and automotive, but also in for example wind turbine blades.
About Kemrock Industries and Exports Ltd.
Established in 1981, Kemrock manufactures and exports FRP/ GRP Composite products for major industrial sectors. A leader in the field of FRP/GRP composites in India, Kemrock delivers standard as well as customized solutions that are ideal replacements for conventional materials. The state-of-the-art facility located close to Vadodara in the western part of India, provides high-quality engineered advanced composite solutions that comply to national and international standards. The company's product range comprises of gratings, poles, pipes, scaffolding (access system), pultruded profiles, windmill blades & nacelle covers, railway interiors & exteriors, SMC/ FRP Doors, telecom towers and many more FRP/ GRP composite products. Kemrock is an Export Oriented company and has been the proud recipient of the Export Award from The Plastic Export Promotion Council for the years 2003-04 to 2008-09.
DSM in Composite Resins
DSM is the largest producer of structural resins in Europe and a technology and innovation leader for the composites industry. The company is globally expanding its activities in structural resins, especially in China and India, targeting high added-value segments. In China, DSM is the leader in specialty UPR and Vinyl ester resins. DSM is also the world's largest producer of glass fiber sizings & binders under the Neoxil® brand. DSM can claim unique competencies throughout the composites value chain. For more information: www.dsmcompositeresins.com.
DSM - Bright Science. Brighter Living.(TM)
Royal DSM N.V. is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 22,000 employees deliver annual net sales of about € 9 billion. The company is listed on NYSE Euronext. More information can be found at www.dsm.com
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