The United States-based Rohm and Haas company, a speciality material major, is targeting a turnover of over $100 million from its Indian operations in the next five years.
"The company has set up a plant at Taloja, Navi Mumbai, for adhesives and coating polymers and we expect to end this year with over $25 million revenues from India," Rohm and Haas chairman and chief executive Raj Gupta told reporters on the sidelines of Indian Chemical Manufacturers Association function in Mumbai on Monday.
The company expects a four-fold growth in the next five years from Indian operations with revenues predominantly coming from domestic market, Gupta, who presented the ICMA awards, said.
The Asian operations are expected to clock turnover of $1.5 billion in 2003 and are likely to double in the next six-eight years, he said.
About fresh investments in India, he said the company has already pumped in $20 million in Taloja plant and further investments are linked to business plans of major clients like Unilever and prospects for food packaging and water treatment segments.
On the company's plans for using Indian research and development capabilities, Gupta said the US multinational was looking at R&D tie-ups with organisation like Indian Institute of Technology.
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