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Issue 15/2017 - Italian plastics company Sirmax establishes joint venture in India

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Italian plastics company Sirmax establishes joint venture in India
Italian polypropylene and engineering plastics manufacturer SirmaxSpA and India's Autotech Polymers have formed a joint venture called Autotech-Sirmax India to officially enter the Asian market
.
The joint venture was established as part of Sirmax's global growth strategy, which provides thermoplastics
primarily to the automotive and home appliance industries.

Under the terms of the agreement between the two companies, Sirmax will acquire a 50% stake
in AutotechSirmax India through an increase in shares.
Autotech holds the
remaining 50%.
Achal Thakkar, Head of Autotech Polymers India, has been appointed General Manager
of the joint venture.

By 2021, the joint venture's production of PP and thermoplastic polymers is expected to increase from the current 18,000 tons to 40,000 tons
.

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