Huntsman plans to invest Rs 250 cr in 4 years

Suresh P Iyengar Mumbai | Updated on April 07, 2011

Mr Peter Huntsman

US-based chemical company Huntsman Corporation, which recently acquired Laffans Petrochemicals' Gujarat unit, plans to invest Rs 250 crore over three to four years in expansion at existing facilities and acquisitions.

In 2009, Huntsman bought Vadodara division of Metrochem Industries for about Rs 240 crore.

Mr Peter R. Huntsman, President and Chief Executive Officer, Huntsman Corporation, said: “We had made a number of acquisitions in the last 10 years. Our target is to grow our revenues in India by 10 per cent every year from $400 million currently. Over next two years, we want to reach a sales turnover of $500 million sales in India.”

The Ankleshwar plant of Laffans, which was taken over by Huntsman, produces amines used in detergents, automobile waxes, personal care products and surfactants, primarily used in detergent and consumer products. It has an annual sales turnover of $60 million.

Huntsman has proposed to build a technical support laboratory in Mumbai at an investment of $10 million and set up a polyurethane production unit in Pune at $10 million. The new Pune facility which is scheduled to be operational by the end of first quarter of 2012 will replace Huntsman's existing system house in Thane. Globally, Huntsman commands revenue of $110 billion and employs 12,000 people.

Performance products

Performance products, advanced materials used by the textile industry and polyurethanes are the major contributors to Huntsman's revenue in India. The performance products, which include amines, carbonates and certain specialty surfactants, are used in a wide variety of consumer and industrial markets and applications.

Polyetheramines are used in industrial applications, such as epoxy curing agents, fuel additives and civil construction materials. Huntsman's intermediates are used in shampoos and conditioners, shaving creams, personal care lotions and creams, fabric softeners and laundry detergents.

India outlook

Huntsman provides high-quality dyes and chemicals to the textile and related industries.

The company's textile competence is dedicated towards researching and developing solutions to create innovative products and technologies with intelligent effects, such as built in freshness, sun protection or hi-tech dyes to reduce water, time and energy consumption.

Linking the demand for its products to GDP growth, Mr Huntsman said Indian markets are expected to grow 7-10 per cent over 10-15 years.

“It may slowdown a bit due to high inflation and other factors, but on a longer term I see the economy here is unleashed and will grow aggressively.”

Published on April 07, 2011

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