The New Facility will Triple Ideal Chemi PlastÂ’s Production Capacity, Positioning it to Respond to Demand in the Fast-Growing EconomyÂ’s Coating Resins Market
TOKYO, JAPAN – WEBWIRE – Thursday, May 19, 2022
DIC Corporation announced that its wholly owned subsidiary, Ideal Chemi Plast Private Limited, based in the state of Maharashtra, India, has commenced construction of a new coating resins production facility in the state’s Supa industrial area. The new greenfield project will increase Ideal Chemi Plast’s production capacity for these resins, enabling it to keep pace with rising demand in India.
DIC has formulated a strategy for expanding the DIC GroupÂ’s presence in coating resins markets across Asia. The Indian market, a key target of this strategy, is projected to see annual growth in excess of 9 percent. With the aim of capturing local demand, in April 2019 DIC acquired Ideal Chemi Plast, having determined that fusing its ability to develop high-end coating resins with the Indian companyÂ’s extensive sales channels, customer base, grasp of user needs, and supply chain would swiftly elevate its market position in India. With its existing coating resins production facility operating at full capacity ever since the acquisition, underpinned healthy demand, Ideal Chemi Plast recognized the need to swiftly augment capacity and purchased a site for a new facility in March 2021. Construction began in April this year.
The new facility, which is expected to begin operating in July 2023, will triple Ideal Chemi PlastÂ’s production capacity. Reactors will also allow local production of new environment-friendly products and products for the global market developed at DICÂ’s Polymer Technical Center Asia Pacific in Thailand. To ensure it operates in a manner that does not harm the environment, the facility will install a Zero Liquid Discharge system, enabling it to treat all wastewater internally to produce clean water suitable for industrial use. This new facility also focuses on carbon footprint reduction by selecting natural gas as fuel, energy efficient machineries with good engineering practice and better safety standards.
Profile of new facility
Location:Â Supa industrial area, Ahmednagar district, Maharashtra, India
Site area:Â 48,500 m2
Principal products:Â Coating resins (acrylic resins, polyester resins, alkyd resins, others)
Applications:Â Industrial (automotive refinish coatings, coil coatings, others)
Start of construction:Â April 2022
Start of operations:Â July 2023 (scheduled)
Looking ahead, the DIC Group will continue working to strengthen its presence in the Indian coating resins market by further boosting both its production capacity and the range of products it offers, thereby improving value provided to local customers and locking in persistently robust demand. In line with the regional strategy set forth in its DIC Vision 2030 long-term management plan, which calls for building in growth by expanding its production bases in South Asia, the Group will also step up marketing efforts by subsidiary DIC South Asia Private Limited, which oversees sales of DIC products in the western part of the region, and works to bolster South AsiaÂ’s role as a base for exporting coating resins to the Middle East and Africa.
About Sun Chemical
Sun Chemical, a member of the DIC Group, is a leading producer of packaging and graphic solutions, color and display technologies, functional products, electronic materials, and products for the automotive and healthcare industries. Together with DIC, Sun Chemical is continuously working to promote and develop sustainable solutions to exceed customer expectations and better the world around us. With combined annual sales of more than $8.5 billion and 22,000+ employees worldwide, the DIC Group companies support a diverse collection of global customers.
Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A. For more information, please visit our website at www.sunchemical.com