CABB Karnavati Rasayan Ltd, a joint venture of the Germany-based CABB Group and the Ahmedabad-based Karnavati Rasayan Ltd, will invest Rs 15 crore on upgrading technology at its Changodar plant located near here.

 CABB is a global provider of chemical building blocks, fine and specialty chemicals, and custom manufacturing solutions. It took majority stake (76 per cent) in the Ahmedabad-based company in 2008. The joint venture is India’s market leader in monochloroacetic acid (MCA) and Sodium MCA (SMCA). MCA is widely used in the personal care, food, agrochemicals, pharmaceuticals and plastics industries.

Now, CABB will introduce advanced technology for the manufacture of high quality MCA, said Dr Martin Wienkenhoever, CEO of CABB, here on Wednesday. However, the plant’s capacity would not be increased from the existing 20,000 TPA.

Recently, CABB had launched KARNA, a multi-million dollar investment project run by experts from Germany and India. “The resulting new technology will enable us to produce consistently high quality MCA and SMCA. KARNA will be completed by the end of 2013,” said Dr Uwe Brunk, General Manager of CABB Group’s Acetyls Business Unit.

Kiritkumar Gajera, Managing Director, CABB Karnavati, said the Ahmedabad-based company has emerged as a multinational organisation over the last five years.

 CABB recently signed an MoU for a joint venture with Jinwei Specialty Chemicals Company Ltd in China.

Headquartered in Sulzbach am Taunus, near Frankfurt/Main, Germany, the Group operates five production sites — two in Germany, and one each in Switzerland, India and China. With nearly 1,000 employees, it recorded an annual turnover of over 400 million euros in 2012.

 

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