Last Updated : Apr 05, 2019 09:02 PM IST | Source: Moneycontrol.com
The new manufacturing unit in Dombivli, Mumbai will greatly enhance supply with high quality catalysts for the Asia Pacific region, in addition to exports to South East Asia markets.
German specialty chemicals maker Evonik Industries, with diverse products in auto, pharmaceuticals, animal nutrition, paints and coating commissioned a new plant for producing activated metal catalysts in India.
The new manufacturing unit in Dombivli, which is close to Mumbai, is expected to increase supply of high quality catalysts for Asia Pacific and enhance exports to South East Asian markets.
The company’s catalysts have a wide application in the manufacturing of various active pharmaceutical ingredients (API).
The company acquired the catalysts manufacturing plant at Dombivli from Monarch Catalyst in 2015. The site produces catalysts for hydrogenation of fats for global markets.
Evonik operates three divisions such as Nutrition and Care, Resource Efficiency and Performance Materials in India.
“With this new production facility we will be able to increase our ability to supply our customers with technologically advanced products in India and abroad,” states Dr Thomas Tacke, Managing Director Evonik Catalysts India.
Evonik sees massive scope for a scale-up in India due to the gradual tightening of environmental regulations.
With revenues of 14.4 billion euros in 2017, the German company is present across 100 countries and the Asia Pacific region contributes about 22 percent of revenues.
The company’s India business, though relatively small, is growing at 15-20 percent compared to 4-5 percent of global growth of specialty chemicals.
First Published on Apr 5, 2019 09:02 pm