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09-09-2010: Kemira Oyj and the Promoters of IVRCL have agreed to form a joint venture in India. In addition, Kemira, Hindustan Dorr-Oliver (HDO) and IVRCL are forming a strategic alliance to serve Indian water treatment markets. IVRCL and HDO are leading water infrastructure companies in India.
The joint venture will include an inorganic coagulant manufacturing facility to be constructed in Vishakapatnam (Vizag) in the state of Andhra Pradesh in India. Inorganic coagulants are essential chemicals used in industrial and municipal water treatment. The manufacturing facility is expected to be operational during the second half of 2011.
The joint venture is 51% owned by Kemira and 49% by the Promoters of IVRCL. The strategic alliance includes a supply agreement under which Kemira will provide water treatment chemicals to IVRCL's water treatment plants in India. The joint venture and the supply agreement are not expected to have a significant short-term financial impact on Kemira.
"This cooperation is well-aligned with Kemira's strategy to grow profitably in India. Through this cooperation Kemira will have a strong manufacturing base in India and an opportunity to broaden our business. Combining Kemira's water chemistry know-how and IVRCL's expertise in building water infrastructure we are able to meet the rapidly growing water demand, especially in the industrial customer segments. Also with the local production facilities we can ensure cost-effective and efficient customer deliveries," says Hannu Virolainen, Senior Vice President, Industrial customer segment, Kemira Oyj.
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