Perstorp, a global leader in the specialty chemicals market, has unveiled plans to invest in the construc-tion of a new Pentaerythritol production facility in Gujarat, India.
The world scale, green-field Gujarat plant will produce Pentaerythritol, including the renewable grades of Voxtar, providing up to a 60% reduced carbon footprint.
Construction of the Gujarat plant started in October this year, with commercial production planned to start in Q1 2022. When fully operational, the site will employ 120 people. The investment will significantly expand Perstorp’s Pentaerythritol production capacity, designed to produce 40 KT of Pentaerythritol per annum from 2022.
Pentaerythritol 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 Pentaerythritol qualities including Pentaerythritol Mono and Di-Pentaerythritol and, additionally, Calcium Formate.
Jan Secher, President & CEO, said “Perstorp is the global market leader in Pentaerythritol and the market demand for these products is steadily growing. The new Pentaerythritol 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 aslo further strenghten our position long term as a sustainable and reliable partner in this region.”
“Perstorp is currently producing Pentaerythritol 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 Pentaerythritol in the country. However, after a thorough evaluation process, Gujarat was selected as the location,” explained Ulrika Andersson, EVP Business Area Specialty Polyols & Solutions.
Magnus Heimburg CFO, 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.”
Source: Perstorp