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Styrolution Inaugurates New Absolan Line in Gujarat, India
VADODARA, India, May 9, 2014 /PRNewswire/ --
- Investment Supports Rising Demand for Absolan(R) in Key Growth Industries in India
- Customers to Enjoy Greater Security of Supply and Better Local Service
- New Line Supports Styrolution's 'Triple Shift' Growth Strategy
Styrolution, the global leader in the styrenics industry, yesterday inaugurated a new
line for the high performance styrenic specialty product Absolan at its Katol site located
in Gujarat, India. The new 40,000 mt line intends to meet the growing demand for Absolan
across key growth industries in India. Absolan customers will benefit from improved local
service and greater security of supply. The move to increase domestic supply of styrenic
specialties in India aligns with Styrolution's 'Triple Shift' growth strategy, which puts
a greater focus on higher growth industries, styrenic specialties and ABS Standard, and
emerging markets.
(Logo:
http://photos.prnewswire.com/prnh/20131121/10081403)
Key points:
- Investment supports rising demand for Absolan in key growth industries in
India: Projected growth in domestic markets for household, electronics, automotive -
particularly in the two-wheeler segment, is expected to increase the demand for
high-performance styrenic specialties like Absolan.
- Customers to enjoy greater security of supply and better local service: The
new Absolan line augments Styrolution's current 60,000 mt production capacity in India
bringing the total annual production capacity to 100,000 mt. The new line reinforces
Styrolution's commitment to offering customers secure, local sourcing options and
greater supply choice for high-performance styrenics.
- New line supports Styrolution's 'Triple Shift' growth strategy: This expansion
in Absolan production in Katol aligns with the company's growth strategy, which calls
for shifts in three areas of its business: focusing on select, higher-growth
industries, growing the specialty styrenics and ABS standard business and expanding
its footprint in emerging markets.
- Absolan: high-performance SAN-based specialties for India: Absolan is the
brand name for Styrolution's styrene acrylonitrile copolymer (SAN) in India, commonly
used in applications, such as household appliances, stationery, cosmetic packaging and
general injection moulding. With Absolan grades, customers enjoy a very well-balanced
property profile ranging from excellent transparency, good chemical resistance, high
stiffness and good dimensional stability. It is also used in acrylonitrile butadiene
styrene (ABS) compounding for applications across various industries, such as
automotive, household, electronics, construction and healthcare.
Quotes:
Roberto Gualdoni, CEO, Styrolution: "India is one of the key strategic markets in Asia
where Styrolution plans to accelerate growth and expand its footprint. This new line
enhances Styrolution's capability to offer customers the high-performance styrenic
specialities with the product and service quality they have come to expect. Ultimately,
the expanded capacity paves the way for further growth together with our customers in
India."
Myungseok Chi, Managing Director, Styrolution ABS (India) Limited: "This new Absolan
line design offers excellence in operational and process safety by incorporating the
experience and best practices gleaned from throughout Styrolution's global production
network. The expansion in production capacity will enable us to better support the success
of our customers in India by providing them the best solutions and a stable local supply,
therefore creating greater value for their business."
About Styrolution ABS (India) Limited
Styrolution ABS (India) Limited is the market leader for ABS (Acrylonitrile Butadiene
Styrene) and SAN (Styrene Acrylonitrile) in India with three manufacturing facilities
located in Gujarat at Nandersari, Katol and Moxi, respectively. ABS is a styrenics
copolymer used for manufacturing plastic components for a wide range of applications, with
a major focus on automotive, household appliances, electronics, etc. SAN is a transparent
styrenics copolymer used mainly in applications including household appliances, imitation
jewellery, etc. Styrolution ABS (India) Limited is a public limited company and its shares
are traded on Bombay Stock Exchange and National Stock Exchange (Stock Exchange Symbol:
STYABS, ISIN: INE189B01011).
About Styrolution
Styrolution is the leading, global styrenics supplier with a focus on styrene monomer,
polystyrene, ABS Standard and styrenic specialties. With world-class production facilities
and more than 80 years of experience, Styrolution helps its customers succeed by offering
the best possible solution, designed to give them a competitive edge in their markets. The
company provides styrenic applications for many everyday products across a broad range of
industries, including automotive, electronics, household, construction, healthcare,
toys/sports/leisure, and packaging. In 2013, sales were at 5.8 billion euros, resulting in
an EBITDA before special items of 442 million euros. Styrolution employs approximately
3,200 people and operates 17 production sites in 10 countries.
For further information please visit http://www.styrolution.com [http://www.styrolution.com
].
Hui Boon Kwa
Communications Manager
Styrolution South East Asia Pte Ltd.
111 Somerset Road
#08-01/02 TripleOne Somerset
Singapore 238164
Phone: +65 6933 8373
E-Mail: huiboon.kwa@styrolution.com
Media Contact: Suvendu Senapati, suvendu.senapati@styrolution.com, +91-265-2355861,
Senior Manager, Communications - India, Styrolution ABS (India) Limited
Photo:
http://photos.prnewswire.com/prnh/20131121/10081403
Photo:http://photos.prnewswire.com/prnh/20131121/10081403
http://photoarchive.ap.org/
Styrolution ABS (India) Ltd
Styrolution Inaugurates New Absolan Line in Gujarat, India
VADODARA, India, May 9, 2014 /PRNewswire/ --
- Investment Supports Rising Demand for Absolan(R) in Key Growth Industries in India
- Customers to Enjoy Greater Security of Supply and Better Local Service
- New Line Supports Styrolution's 'Triple Shift' Growth Strategy
Styrolution, the global leader in the styrenics industry, yesterday inaugurated a new
line for the high performance styrenic specialty product Absolan at its Katol site located
in Gujarat, India. The new 40,000 mt line intends to meet the growing demand for Absolan
across key growth industries in India. Absolan customers will benefit from improved local
service and greater security of supply. The move to increase domestic supply of styrenic
specialties in India aligns with Styrolution's 'Triple Shift' growth strategy, which puts
a greater focus on higher growth industries, styrenic specialties and ABS Standard, and
emerging markets.
(Logo:
http://photos.prnewswire.com/prnh/20131121/10081403)
Key points:
- Investment supports rising demand for Absolan in key growth industries in
India: Projected growth in domestic markets for household, electronics, automotive -
particularly in the two-wheeler segment, is expected to increase the demand for
high-performance styrenic specialties like Absolan.
- Customers to enjoy greater security of supply and better local service: The
new Absolan line augments Styrolution's current 60,000 mt production capacity in India
bringing the total annual production capacity to 100,000 mt. The new line reinforces
Styrolution's commitment to offering customers secure, local sourcing options and
greater supply choice for high-performance styrenics.
- New line supports Styrolution's 'Triple Shift' growth strategy: This expansion
in Absolan production in Katol aligns with the company's growth strategy, which calls
for shifts in three areas of its business: focusing on select, higher-growth
industries, growing the specialty styrenics and ABS standard business and expanding
its footprint in emerging markets.
- Absolan: high-performance SAN-based specialties for India: Absolan is the
brand name for Styrolution's styrene acrylonitrile copolymer (SAN) in India, commonly
used in applications, such as household appliances, stationery, cosmetic packaging and
general injection moulding. With Absolan grades, customers enjoy a very well-balanced
property profile ranging from excellent transparency, good chemical resistance, high
stiffness and good dimensional stability. It is also used in acrylonitrile butadiene
styrene (ABS) compounding for applications across various industries, such as
automotive, household, electronics, construction and healthcare.
Quotes:
Roberto Gualdoni, CEO, Styrolution: "India is one of the key strategic markets in Asia
where Styrolution plans to accelerate growth and expand its footprint. This new line
enhances Styrolution's capability to offer customers the high-performance styrenic
specialities with the product and service quality they have come to expect. Ultimately,
the expanded capacity paves the way for further growth together with our customers in
India."
Myungseok Chi, Managing Director, Styrolution ABS (India) Limited: "This new Absolan
line design offers excellence in operational and process safety by incorporating the
experience and best practices gleaned from throughout Styrolution's global production
network. The expansion in production capacity will enable us to better support the success
of our customers in India by providing them the best solutions and a stable local supply,
therefore creating greater value for their business."
About Styrolution ABS (India) Limited
Styrolution ABS (India) Limited is the market leader for ABS (Acrylonitrile Butadiene
Styrene) and SAN (Styrene Acrylonitrile) in India with three manufacturing facilities
located in Gujarat at Nandersari, Katol and Moxi, respectively. ABS is a styrenics
copolymer used for manufacturing plastic components for a wide range of applications, with
a major focus on automotive, household appliances, electronics, etc. SAN is a transparent
styrenics copolymer used mainly in applications including household appliances, imitation
jewellery, etc. Styrolution ABS (India) Limited is a public limited company and its shares
are traded on Bombay Stock Exchange and National Stock Exchange (Stock Exchange Symbol:
STYABS, ISIN: INE189B01011).
About Styrolution
Styrolution is the leading, global styrenics supplier with a focus on styrene monomer,
polystyrene, ABS Standard and styrenic specialties. With world-class production facilities
and more than 80 years of experience, Styrolution helps its customers succeed by offering
the best possible solution, designed to give them a competitive edge in their markets. The
company provides styrenic applications for many everyday products across a broad range of
industries, including automotive, electronics, household, construction, healthcare,
toys/sports/leisure, and packaging. In 2013, sales were at 5.8 billion euros, resulting in
an EBITDA before special items of 442 million euros. Styrolution employs approximately
3,200 people and operates 17 production sites in 10 countries.
For further information please visit http://www.styrolution.com [http://www.styrolution.com
].
Hui Boon Kwa
Communications Manager
Styrolution South East Asia Pte Ltd.
111 Somerset Road
#08-01/02 TripleOne Somerset
Singapore 238164
Phone: +65 6933 8373
E-Mail: huiboon.kwa@styrolution.com
Media Contact: Suvendu Senapati, suvendu.senapati@styrolution.com, +91-265-2355861,
Senior Manager, Communications - India, Styrolution ABS (India) Limited
Photo:
http://photos.prnewswire.com/prnh/20131121/10081403
Photo:http://photos.prnewswire.com/prnh/20131121/10081403
http://photoarchive.ap.org/
Styrolution ABS (India) Ltd