The Hindu Business Line : Pala co-op society in pact with UK firm

PALA Marketing Co-operative Society, one of the largest primary marketing co-operatives in South India, has formed a joint venture company with the UK-based Haydn InterCorp Ltd to produce urological catheters.

The Pala Society will hold 74 per cent equity in the joint venture, Indiar ) Haydn Health Care Private Ltd, and Haydn InterCorp will hold the rest. A factory for the joint venture is being set up at the special economic zone here at a cost of Rs 6.5 crore.

Urological catheter, a thin sterile tube inserted into the body to drain urine and other liquid waste for medical purposes, is an important disposable product used by the healthcare industry across the world.

Haydn InterCorp, which specialises in latex engineering, project solutions and product marketing, provides turnkey solutions in rubber and allied agro industries. It offers technology and production know-how, including design, development and fabrication of complete plant and ancillary equipment.

According to Prof K.K. Abraham, President of the Pala Society, the factory will have a production capacity of 25,000 catheters a day.

Haydn InterCorp has agreed to underwrite the entire production from the unit for ten years. The company will also be responsible for international marketing of the product.

The worldwide demand for the product is estimated to be 80-100 million units a year.

Mr Jonathan A. Smith, Chairman of Haydn InterCorp, said the company would also sell 25 per cent of the catheters manufactured at the Kochi factory in the domestic market, which will be treated as deemed exports.

"We are to set up a marketing and sales office, probably in Bangalore. May be by the end of the year, we will start selling the product," Mr Smith said.

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