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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 organizations 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 organization that fits closely with Scott Bader's values including its commitment to continuing improvement of processes, products and services. Both organizations 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. Production of the first batches of performance gelcoats is expected to be available by end July.
Scott Bader was established in 1921. Today they are a Euro 220 million multinational chemical company, employing 600 people worldwide. Key Activities: The development, manufacture, distribution and sales of synthetic resins and polymers for applications in marine, land transportation, building and construction, adhesives, surface coating, graphic arts and textile markets. Their high quality products are sold globally under well established brand names such as Crystic®, Fireguard®, Crestomer®, Crestabond®, Crestapol®, Texipol®, Texigel®, Texicryl® and Polidene®.
Satyen Polymers is a leading manufacturer of Unsaturated Polyester Resin. Its resin grades include Orthophthalates, Isophthalates, Iso-NPG based grades, Terephthalates, DCPD based grades, THPA based grades, Bisphenol Fumarates, Vinyl Ester, and other specialty grades.