New Phenolic Specialty Resins Manufacturing Facility to Be Built in India
CHEMMONITOR.COM - US chemical company with headquarters in Ohio, Momentive Specialty Chemicals Inc. and Indian chemical intermediates manufacturer, Kanoria Chemicals & Industries Limited (KCI), are apt to establish a JV. The parties are planning to set up a new phenolic specialty resins facility that will be situated at Visakhapatnam site in India.
The parties have already inked a non-binding MoU. Each company is predicted to own 50% of shares in the future JV. KCI is expected to move its existing production plant to the Visakhapatnam site whereas the US company will provide the proposed JV with technology that supports its specialty phenolic resins, formaldehyde and hexamine businesses.