Heubach Colour Pvt Ltd (HCPL) and Japan's Toyo Ink SC Holdings signed a deal today to establish a joint venture, under which it will set up an organic pigments manufacturing facility plant at Ankleshwar, Gujarat.
The management team of the joint venture company -- Heubach Toyo Colour -- comprise three members each from Gujarat-based Heubach Colour and Toyo Ink.
Construction of the factory, which will form azo (an organic form of pigment), is expected to be over by May 2014 after which commercial production would start with an annual capacity of 2,000 tonnes. Talking to reporters after signing the deal here today, Heubach Colour Pvt Ltd's Managing Director Ravi Kapoor said the new joint venture will facilitate and strengthen Heubach's presence in South-East Asia.
"Pigments manufactured by the new joint venture will use the most sustainable and eco-friendly process which is a declared philosophy of both the companies. This will result in increase of market share as well as a fuller basket of pigments which will be offered to customers across the globe," Kapoor said.
