by Rons Bantwal
Daijiworld Media Network - Mumbai
Mumbai, Feb 21: Chemical, Product maker Unitop chemical Pvt Ltd has teamed up with Malaysia’s Hextar chemical Sdn to expand its product range and to widen worldwide customer and industry market reach.
Unitop is the top player in Chemical Industry in India, headed by B D Shetty, a dynamic entrepreneur from Barkur, Udupi settled in Mumbai
Unitop have equal ownership of Hextar Unitop Sdn Bhd, which will make specialty chemicals for the agriculture, oil and gas, textile and personal care products industries.
Hextar executive director Eddie Ong choo Meng said the partnership for the firm’s global business which is already present in 13 countries.
Unitop Managing director B D Shetty said the alliance will be a plat form for their first overseas venture. It wants to find a foothold in the fast growing economy of Southeast Asian countries including China and Australia.
"We will build a Rs 130 million plant in Pulau Indah. Port Klang in two years and export our products to 17 countries especially targeting china" Eddie Ong said.
The plant will bring a revenue of Rs 600 million in its fifth year of operations Ong told reporters in Selangor yesterday after the companies inked their cooperation witnessed by international Trade and Industry ministry Parliamentary See and Sanjay Panda, the Economic India in Malaysia.
Shetty said the plant will have a capacity of 6,000 tones a year on a single shift basis for 300 working days. It will run at half of its capacity in the fifth year. At full capacity it would chalk up revenue of RM50 Million.
Mumbai based Unitop meanwhile is a small and medium scale enterprise company turning an annual revenue of US$ 25 Million last year.
It specializes in specialty chemicals used in oilfields, paper and personal products care industry.
Hextar Chemicals is a wholly owned subsidiary of Hextar holdings Bhd, a firm that was headed for a listing on the second board in June last year. That plan was scrapped due to tax matters that had to be resoled. Company officials say.
On said this time the company plans to float its shares on the main board of bursa Malaysia as its factory requirements. He however did not specify any time frame.
About Unitop:
The group is headed by B D. Shetty, having its corporate office in Mumbai near international airport. An ISO 9001:2000 certified company has established in various surfactants and specialty chemicals for agro-chemical formulations, oil exploration, refining, textiles, pharmaceuticals, rubber and plastic industries for the past 30 years and today are one of the leading manufacturers of NON-IONIC/ANIONIC surfactants.
The group is also engaged in export production of agro emulsifiers/ surfactants.