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Home  > Markets & companies  > Raw materials market  > Nuplex started joint venture with Russian...

Thursday, 19 September 2019
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Markets & companies, Raw materials market

Nuplex started joint venture with Russian resin maker

Tuesday, 24 January 2012

Nuplex will spend USD 5.7 million to set up the 50/50 partnership, which is expected to be formed in the first quarter of 2012.

The joint venture also allows for a resin manufacturing site to be built at the Russian location Belgorod in the next two years
Source: Nuplex Industries
The joint venture also allows for a resin manufacturing site to be built at the Russian location Belgorod in the next two years Source: Nuplex Indu...

Nuplex Industries has signed up to a joint venture with Russian paint and resins manufacturer KVIL. Nuplex will spend USD 5.7 million to set up the 50/50 partnership, which is expected to be formed in the first quarter of 2012. CEO Emery Severin anticipates that the deal will open up access to the growing Russian market. "Entering into Russia through a joint venture enables us to take a low risk approach to building our presence in this emerging market" he stated. The joint venture also allows for a resin manufacturing site to be built at the Russian location Belgorod in the next two years, with estimated cost of USD 32 million. "We will have the opportunity to build on-the-ground experience before committing to a larger investment in a manufacturing site" Severin explained.

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