Henkel Adhesive Technologies India has announced a whopping 30 million Euro investment to set up India’s largest adhesives plant in Kurkumbh, near Pune.
Maharashtra Chief Minister Devendra Fadnavis and Jeremy Hunter, President Henkel Group India, will lay the foundation of the plant on June 11, 2015.
The plant would help localize product portfolio and reduce imports. It is expected to cater to several end user segments like automotive, metal and industrial sectors.
The plant will be built in phases. The first phase would have the manufacturing facility with an operational area of about 20,000 square meters and an annual capacity of about 80,000 metric tonnes.
“We’re growing at 10-15% per annum. The current capacity addition will future proof our expansion plans till the early 2020s”, Jeremy Hunter, President Henkel Group India said.
Henkel has nine plants in India already. Does the tenth reinforce Henkel’s footing in India?
“India is one of the biggest markets we’ll be focusing on in the coming future. Our investment reaffirms our faith in India’s market potential”, Hunter confirms.
The company aims to generate net sales of around 10 billion Euros by the end of 2016.
The new plant is expected to start production by early 2017.
(Image credit: Indiatimes)