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| RadiciGroup at Gail Plastasia |
At Plastasia 2010 (Bangalore, India, 26 February – 1 March), an internationally recognized trade fair dedicated to the plastics sector, RadiciGroup is showcasing its lines of polyester and polyamide engineering plastics (Radilon®, Radiflam®, Raditer® and Heramid®), acetal products (Heraform®) and thermoplastic elastomers (Heraflex®).
In keeping with its philosophy of supporting customers’ globalization strategies, the RadiciGroup Plastics Business Area has been present in India since 2006, when the RadiciPlastics Modi P.Ltd sales unit was created through a joint venture between Radici Novacips, RadiciGroup Plastics’s head company, and the Indian M.K. Modi Group. More recently, the same philosophy has spurred the acquisition of US compounder MDE by RadiciGroup Plastics. Thanks to this acquisition, the Group will be present locally in a notoriously conservative market that demands products made in the USA; it has also become the owner of a significant number of American automotive certifications, which are vital for starting new projects.(http://www.radicigroup.it/plastics/it/news/introDetail.aspx?idmaster=15693).
Today, the Indian plastics market is one of the most promising and exciting markets in the world. Of special interest to RadiciGroup is the automotive sector, where engineering plastics are increasingly used. Estimates prepared by the Society of Indian Automobile Manufacturers (SIAM) show that, over the next three years, the expanded production capacity added in India by foreign car manufacturers – among which Nissan, Renault, Toyota Kirloskar Motors, Mercedes-Benz, Honda Siel Cars, General Motors, Ford and Volkswagen – will result in the creation of five million new jobs. Furthermore, according to SIAM, seven million more jobs will be added in the period from 2012 to 2016, thus increasing the number of employees in India’s automobile sector from 13 million today to about 25 million in 2016. The annualized growth rate of India’s auto industry during the last few months has been around 21%, confirming the dynamic upward trend with growth rates of between 15 and 27% experienced by the Indian auto market during the last fifteen years. Forecasts indicate that by 2016 this Asian country, which today ranks second in the world in the two-wheel sector and fourth in the commercial vehicles sector, will also gain four positions in the passenger vehicle sector, going from the current eleventh to seventh place. According the Automotive Mission Plan 2006-2016 set forth by India’s government, production value in the automotive sector is expected to reach USD 145 billion in 2016.
Besides the automotive industry, RadiciGroup Plastics products are used in the electrical/electronic, industrial and packaging sectors, which are precisely the fields that offer a tremendous growth opportunity for the engineering plastics market.
For more information, please read the Press Release:
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