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Scott Bader Group and Satyen Polymers Pvt Limited announce the signing of agreements signaling the successful conclusion of negotiations between the two organisations to form a joint venture in India.
Phase one of the joint venture will be to implement the sharing of technology and processes for manufacture of unsaturated polyester resin gelcoats that will be produced on Satyen Polymer’s plant situated in Silvassa, Union Territory of Dadra and Nager Haveli located 175 kms north of Mumbai. A number of high-performance gelcoats have been identified as having potential to satisfy the needs of customers seeking quality finishes for their products and to cater to the strong development within the Indian Composites industry.
Scott Bader has had a meaningful presence in India for many years and the brand continues to attract enquiries from customers seeking value from suppliers. This is a significant step towards reaffirming its commitment to provide enhanced support to existing customers and also indicates confidence that the local industry will continue to develop and mature in line with global trends. Satyen Polymers has been identified as an organisation that fits closely with Scott Bader’s values including its commitment to continuing improvement of processes, products and services. Both organisations share a belief in the need for sound corporate governance and social responsibility.
Scott Bader Group Managing Director, Philip Bruce said: “Scott Bader is a leader in gelcoat technology and we are confident that our association with Satyen Polymers will add value to our customers”.
Jitendra Vora, Chairman and Managing Director of Satyen Polymers said: “We are excited about our partnership with the Scott Bader Group. Our complete range of Gelcoats will cater to requirements in the fast developing Indian composite market, which has seen significant domestic and export related growth. As the Indian composite market matures, the performance demands of raw materials and end products are bound to increase. We are now well placed to meet these requirements”.
The joint venture will operate under the name Satyen Scott Bader Pvt Limited. The agreements will be implemented with immediate effect with UAE-based Scott Bader Middle East overseeing the transfer of technology and providing initial training.