Evonik's unit Insilco to temporarily shut down plant

Insilco Limited, a group company of Germany-based Evonik Industries, will temporarily shut down its plant due to low sales volume and high inventories. Insilco Ltd has informed BSE that its plant will remain shut down from December 20, 2013 to January 15, 2014 due to high inventory and low sales volume. The company has also announced that it will carry out routine preventive maintenance and cleaning during this time.
 
According to Insilco’s website, Insilco Limited is one of the leading producers of precipitated silica in South Asia and has plant is situated at Gajraula, Uttar Pradesh. Insilco produces different grades of silica catering to the requirement of customers in rubber and non-rubber segments. Its main customers comprise of companies manufacturing tyres, rice rollers, footwear and mechanical rubber goods as well as accounts active in plant protection, feed, food, detergents, battery separators and toothpaste.