Zeon India to target automotive elastomers market on start-up
Tokyo – Zeon Corp. and group company Zeon Asia Pte. Ltd have jointly established Zeon India Private Ltd in Gurgaon, in the Indian state of Haryana.
Due to start operations on 1 Oct, Zeon India will initially target the rubber-based automotive component applications. It is to, subsequently, expand the scope of business to other Zeon products, such as chemicals and speciality plastics.
“Zeon India was established in view of the importance of constructing and implementing a business strategy that is closely aligned with the needs of our customers in the expanding Indian market,” said a 28 Sept announcement from the Japanese group.
“It is intended to provide an impetus for further business development by setting up a company for handling the entire range of the Zeon Group's businesses in India,” added Zeon.
The new company, to be led by managing director Hiroshi Mihara, will focus on the import, sales and marketing of Zeon synthetic rubber and other group products. It was formally established on 21 July, with a paid-in capital of INR15 million (€203,300)
Zeon India has a shareholder-ownership structure of Zeon Asia, 99 percent; and Zeon Corp., 1 percent.