International. Perstorp announced that during its participation in the "Make in India" event, it signed a memorandum of understanding with MDIC (Maharashtra Industrial Development Corporation), with which the company begins the process of evaluating the possibility of investing in a new production plant on a global scale for Penta's business in India.
The company assures that the related market for coatings is growing rapidly in the country. The construction of a production plant on a global scale would be an important part of the ambitious plan to strengthen the position in the Asian market. In July 2015, Perstorp Penta acquired the business of Koei Chemical Company Ltd., a Japanese chemical manufacturer.
"Penta's business is a cornerstone of Perstorp and an integral part of the strategy to drive growth in the Asia Pacific region. It takes presence and determination to succeed. An investment in India would be to build and strengthen our position in the world market. Today's signing of a memorandum of understanding demonstrates our intention to take the desired steps in the region," said Ene Secher, President and CEO of Perstorp.
