Fosroc Chemicals India, a wholly owned subsidiary of the Dubai-based $500 million Fosroc International, engaged in production and marketing of construction chemicals, plans to make India an export hub. It aims to export products to Sri Lanka, Bangladesh and Nepal.
According to managing director R Shridhar, there is a huge demand for construction chemicals in these markets, apart from India.
"We are also exploring opportunities for exporting to African countries, Malaysia and Thailand. We have received enquiries from existing customers for direct exports and are finalising the modalities."
The company manufactures a range of chemicals for the construction industry such as adhesives, admixtures, surface treatments, grouts, joint sealants, anchors, industrial flooring and also provides concrete repair and water proofing solutions.
Sridhar said that Fosroc, which has three manufacturing facilities in India, is ramping up its production capacity by setting up more manufacturing units across the country.
It recently commissioned its third facility at Rudrapur in Uttaranchal. It is now working on its fourth plant to be located in the eastern part of the country.
"We will set up more plants to further reach out to our customers in all regions of the country. We want to expand our presence mainly in the construction chemicals segment by setting up more manufacturing plants in the country," he said.
Fosroc is also looking at acquiring companies with similar product range to grow its business in India. "We are open to acquiring companies in our area of activity. We would be happy if we can get companies in the construction chemicals sector," Sridhar added.
Though he did not disclose the actual revenues of the Indian venture as it is a privately-held company, he added that the Indian operations were growing at 30 per cent year-on-year and the company will make investments to sustain that kind of a growth rate in the future as well.
