Kaneka Establishes a New Company in India
―Aiming to strengthen market survey and sales activities to accelerate global expansion―
May 13, 2010
The main roles of the new company will be as follows:
○ To roll out sales and technical service activities more finely tuned to customer needs in order to further expand already existing businesses there.
○ To roll out market/customer survey and sales support activities for businesses that will potentially be introduced to the market in the near future.
○ To search for potential opportunities for local production, M&A and technological collaboration and make proposals while keeping track of economic, legal and other circumstances in the country.
○ To serve as a front-line base for collecting information on future business expansion into the Middle Eastern market.
India’s GDP for last year is forecasted to show 7-8% growth thanks in part to robust domestic demand. It is expected that the bullish economic growth will continue and that it will become a huge market in the near future. Strategic business expansion in the Indian market is extremely important for Kaneka to engage in further global expansion. Developing the new company into a corporate base from which to roll out various Kaneka businesses
will allow Kaneka to build a solid business foundation in the Indian market.
Outline of the New Company
– Company name: KANEKA INDIA Pvt. Ltd. (Kaneka India)
– Business: Indian market survey and sales support activities
– Capital: 17.5 million rupees (approx. 35 million yen)
– Founded: April 2010
– Head office: New Delhi, India
– Representative: Isao Otsu, Managing Director
– Shareholders: Kaneka Corporation (99%) and Kaneka (Malaysia) Sdn. Bhd. (1%)