 "Kingfa Science acquires land in Pune to build plastics making facility")
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Kingfa Science & Technology India Ltd (formerly Hydro S & S Industries Ltd), the manufacturer of modified plastics and engineering plastics, was handed over the possession of a plot at Chakhan in Pune by the Maharashtra Industrial Development Corporation (MIDC) for setting up its manufacturing facility. The company also has signed the lease agreement for the said land.
Kingfa Science & Technology Co Ltd, one of the leading compounders in China, forayed into India by acquiring controlling stakes in Hydro S&S Industries in 2013 for $ 18 million. Kingfa Science has three factories in India at Chennai, Pune, and New Delhi, where it manufactures compounded polypropylene, thermoplastic elastomers and glass-fibre materials for auto makers.
The company has been consolidating its position in the country through acquisition and organic expansion. Through the new manufacturing site, Kingfa’s first production base outside China, the company is reportedly planning to integrate its production, R&D, sales and marketing activities in India.
Kingfa, one of the leading players in the Asia Pacific plastics market, manufactures polypropylene as well as engineered plastics & elastomers which find applications in automotive and consumer durable industries.
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