Investment in Lote Supports Growing Market Opportunities in the Region
SCHENECTADY, N.Y. – May 18, 2021 – SI Group, a leading performance additives company, announced today the decision to increase tackifier resin capacity at its Lote, India, manufacturing site by an expected 75%. The expansion will propel the site to become a regional hub for best-in-class tackifier resin production and technology.
The investment addresses an increasing demand for Novolac tackifiers in one of our core regions. The expansion is slated for completion in two phases. The first phase will be completed by the end of 2021 and the second phase will commercialize in the latter half of 2022.
“We have decided to grow capacity as another step forward in demonstrating our commitment to supporting our customers’ growth and positioning ourselves as a leader in specialty additives,” said Robert Kaiser, Vice President - Rubber & Adhesives Solutions at SI Group. “This expansion will not only benefit the region’s supply, but it will also provide superior solutions at the highest reliability to our customers globally.”
“This investment positions SI Group to supply regional growth and meet strong forecasts within the Indian tires & automobile sector,” stated Suresh Kalra, Vice President & Managing Director India at SI Group. He further said that these investments will strengthen the position of our customers and India’s Rubber Industry moving forward.
SI Group has a long history of manufacturing tackifier resins used to enhance the performance and durability of tires. In addition to tackifier resins, the company also has a robust portfolio of antidegradants and bonding, curing, and reinforcing resins manufactured globally. This expansion follows the company’s previous announcements to also expand resin capacity in Nanjing, China, and Bethune, France.
About SI Group
SI Group is a global leader in the innovative technology of performance additives, process solutions, active pharmaceutical ingredients, and chemical intermediates. SI Group solutions are essential to enhancing the quality and performance of countless industrial and consumer goods within the plastics, rubber & adhesives, fuels & lubricants, oilfield, pharmaceutical, and industrial resins industries. Headquartered in Schenectady, New York, SI Group’s global manufacturing footprint includes more than 30 facilities on five continents, serving customers in 90 countries with approximately $2 billion in annual sales and more than 3,000 employees worldwide. SI Group innovates and drives change to create value with a passion for safety, chemistry, and extraordinary results. Learn more at www.siigroup.com
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