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Hextar JV Indian Unitop to produce additive chemicals
31
Jan '08
Malaysian biggie Hextar Chemicals Sdn Bhd, specializing in manufacturing pesticides, trading and distribution of pesticide products and offering pest control services to its customer, is seeking for expansion.

On the course, the company has inked a joint venture accord with Indian Unitop Chemicals Pvt Ltd to manufacture special additive chemicals for oil field, agriculture, textile, and personal care products industries.

The investment in the newly formed company known as Hextar Unitop Sdn Bhd goes up to RM10 million.

Eddie Ong, Executive Director, Hextar Chemicals Sdn Bhd said, “Our main target is to bring Unitop's line of products to China, Indonesia and Thailand in the next four years. We are able to bring these specialty chemicals and sell to manufacturers that are already in China and Thailand as the quality of their emulsifiers and surfactants are not as good as those from India”, during the joint venture signing ceremony.

The new company, expected to give output of 6,000 tons of additive chemicals, is likely to achieve 50 percent capacity utilization in the first year of operations and is forecasted to bring a revenue of RM50 million in its fifth year of operations. Over 70 percent of the production will be exported.

Mumbai-based Unitop is a small and medium scale enterprise with an annual turnover of US $25 million.

Fibre2fashion News Desk - India

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