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Chlorinated Poly Vinyl Chloride (CPVC) pipes maker, Astral Poly Technik Ltd, on Wednesday announced a strategic tie-up with Japanese Sekisui Chemical Co Ltd to source CPVC resin for hot and cold water plumbing systems.
"This strategic tie-up between Astral and Sekisui enables Astral to go for backward integration into developing its own CPVC compound," the company said.
Sekisui is a $10-billion Japanese chemicals maker engaged in the plastics and chemicals business since 1947.
"With this strategic tie-up with Sekisui and backward integration, we plan to make ourselves self-sufficient with our own brand," said Sandeep Engineer, Managing Director, Astral.
Commenting on the partnership, Toshiya Yasunaga from Sekisui, said, "Through Astral we will look to bring in the latest technology and manufacture the best CPVC pipes in India. Sekisui looks to contribute to developing Indian infrastructure through our innovations and technical knowhow in this field."
Astral has installed a production capacity of 1,27,762 tonnes at its facilities in Gujarat and Tamil Nadu.
After the announcement of the strategic partnership, Astral shares traded positive at Rs 487 on the National Stock Exchange (NSE).
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