Penta has a vast range of application areas, being an essential building block ingredient in coatings, as well synthetic lubricants and antioxidants. The Gujarat investment will reinforce Perstorp’s ability to meet growing demand, particularly in Asian markets, as well as offering various penta qualities including penta mono and di-penta and, additionally, calcium formate.

Jan Secher, President and CEO, said, “Perstorp is the global market leader in penta, and the market demand for these products is steadily growing. The new penta plant in India marks a major milestone in our growth strategy, and we are confident that this will not only increase the security of supply for current, as well as new, customers but also further strengthen our position long term as a sustainable and reliable partner in this region.”

 “Perstorp is currently producing penta at three different production plants around the globe: Germany, the USA and Sweden. India is a strategic market with a growing demand for coatings and Perstorp has been planning to strengthen its foothold here for several years. In February 2016, Perstorp signed a memorandum of understanding (MoU) with Maharashtra Industrial Development Corporation (MIDC), as a step in evaluating the opportunity to invest in a new world-scale production plant for Penta in the country. However, after a thorough evaluation process, Gujarat was selected as the location,” explained Ulrika Andersson, EVP Business Area Specialty Polyols & Solutions.

CFO Magnus Heimburg commented, ”As a chemical company, our strategy is to maximize value from our production plants and find smarter ways to increase capacity within the existing facilities. However, this investment is critical for us to make a major leap in terms of growth. It is our firm belief that this is the right time and place to expand our business.”