Financial Daily from THE HINDU group of publications
Friday, Feb 22, 2002
Financial Daily from THE HINDU group of publications Friday, Feb 22, 2002 |
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Corporate
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New Projects SNF India to set up Vizag unit Our Bureau
HYDERABAD, Feb. 21 FRENCH firm, SNF Floerger, a manufacturer of water treatment products, has completed the acquisition of Ion Exchange, having picked up a further 60 per cent equity, and is now planning a new manufacturing base at Visakhapatnam. The Chairman of SNF India (the new name after the acquisition of Ion Exchange), Dr Prasad Mulukuntla, and the Chairman of SNF Floerger, Mr Rene Pich, said that the company saw a huge business potential for water treatment products, particularly in the refinery, farm sector and municipal water treatment facilities. In order to tap the latent potential and to leverage the manufacturing capabilities here, SNF India has drawn up plans to establish a new facility at Visakhapatnam. This would have a manufacturing capacity of 10,000 tonnes per annum of powder polyacrylamide, Dr Prasad said. SNF Floerger, based in France, is a major player in polyacrylamide-based water soluble polymers and accounts for about 35 per cent of the global market share, manufacturing about 1,70,000 tonnes of polymers. In December last, SNF Floerger picked up about 60 per cent shareholding in the joint venture of SNF-Ion Exchange and has now become 100 per cent owner of the new entity — SNF India. It may be recalled that a joint venture was established between Polyelectrolyte India and SNF in 1989, with the former holding 60 per cent equity. SNF now has a manufacturing facility at Patancheru, an industrial estate near Hyderabad. This plant manufactures a range of products based on emulsions, solutions, coagulants and powders. The French firm, which has a turnover of over $550 million, manufactures over 1,000 products. The company has significant presence in China and expects India to soon keep pace with it. China consumed 25 times more water treatment products than India, Mr Pich said.
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