US-based Polyester resin manufacturer Reichhold Industries Inc has launched its greenfield manufacturing unit near Pune at a cost of Rs 100 crore. The company plans to invest another Rs 100 crore at the same site in Ranjangaon while aims to achieve 10 per cent market share in the mostly unorganised Indian polyester market.
The newly launched facility has an installed capacity of 13,200 MT per year and would initially manufacture resin products for wind, GRP pipe, engineering stone, chemical equipments, automobile and general purpose sectors. The plant would also manufacture equipments required for Reichhold's global requirements.
Reichhold Industries Inc chairman and CEO John Gaither told Business Standard, "As a global player, we want to bring international quality products to match Indian local needs. The new plant in India will also strengthen our offerings in the global market.”
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