Henkel set to build India’s largest Adhesives Plant near Pune
Advertisement
Advertisement
Henkel Adhesive Technologies India has announced a whopping 30 million Euro investment to set up India’s largest adhesives plant in Kurkumbh, near Pune.Maharashtra Chief Minister Devendra Fadnavis and Jeremy Hunter, President Henkel Group India, will lay the foundation of the plant on June 11, 2015.
The plant would help localize product portfolio and reduce imports. It is expected to cater to several end user segments like automotive, metal and industrial sectors.
The plant will be built in phases. The first phase would have the manufacturing facility with an operational area of about 20,000 square meters and an annual capacity of about 80,000 metric tonnes.
“We’re growing at 10-15% per annum. The current capacity addition will future proof our expansion plans till the early 2020s”, Jeremy Hunter, President Henkel Group India said.
Advertisement
Henkel has nine plants in India already. Does the tenth reinforce Henkel’s footing in India?
“India is one of the biggest markets we’ll be focusing on in the coming future. Our investment reaffirms our faith in India’s market potential”, Hunter confirms.
The company aims to generate net sales of around 10 billion Euros by the end of 2016.
The new plant is expected to start production by early 2017.
(Image credit: Indiatimes)
Advertisement
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- IndiGo places order for 30 wide-body A350-900 planes
- Markets extend gains for 5th session; Sensex revisits 74k
- Top 10 tourist places to visit in Darjeeling in 2024
- India's forex reserves sufficient to cover 11 months of projected imports