Perstorp Signs MoU to Evaluate Feasibility of New Penta Production Plant in India
MALMÖ, Sweden - Perstorp has signed a memorandum of understanding (MoU) with Maharashtra Industrial Development Corp. (MIDC) that initiates the process of evaluating an investment in a new world-scale production plant for Penta in India. The MoU was signed at the “Make in India” event, which took place February 13-18, 2016, in Mumbai. Building a production plant would be another part of Perstorp’s plan to strengthen its position in the Asian market. In July 2015, Perstorp acquired the Penta business from Koei Chemical Co. Ltd., a Japanese chemicals producer.
“The Penta business is a cornerstone for Perstorp and an integral part of the strategy to drive growth in the Asia-Pacific region. It requires presence and determination in order to succeed. An investment in India would further build upon and strengthen our number-one position in the global market. Today’s signing of an MoU demonstrates our intention to take the desired steps in the region,” said Perstorp President and CEO Jan Secher.