LYNGBY, Denmark - Hempel, a leading industrial and marine paint supplier, is expanding its operations in the Indian subcontinent with the opening of a new manufacturing unit in Nashik, Maharashtra, India. The company also plans to invest approximately EUR 15-20 million in a greenfield project over a period of three years.
Expansion in the Indian market is an important element within Hempel’s business strategy. “We are excited to expand our presence in the Indian subcontinent and supply not only India, but also Sri Lanka, Bangladesh, the Maldives and Nepal,” said Hempel CFO Kim Junge Andersen. “We’ve had very positive experiences with our organization in India, and the new plant will significantly boost our ability to serve our growing customer base in this region.”
The new plant will feature the latest in environmentally friendly coating production equipment, including a semi-automatic powder handling system, an automatic liquid dosing system and a solvent recovery unit.
Designed to house raw materials and the finished product under one roof, the one-building factory is spread across a 1500-square-meter plot. Under one-shift operation, the factory will produce 1.5 million liters annually. If further capacity is required, the factory can operate with two shifts to raise production capacity to 2.4 million liters.
“India is a very important market for Hempel, and the expansion will fast track our growth in the region,” said Umesh Singh, Director, Hempel South Asia. “While Hempel already has a large share of the global market in segments including wind turbines, cranes and infrastructure, India has also seen rapid growth in these segments. We look forward to supplying the protective and marine coatings to the growing markets for these segments in South Asia. In these markets, our goal is to double our 2010 turnover to above EUR 18 million by 2013 and to triple turnover to more than EUR 25 million by the end of 2015.”
Hempel is Expanding Operations in India
June 23, 2011