(1888PressRelease)
March 23, 2007 - Mumbai, India and Philadelphia, USA, March 21, 2007 – Reliance Industries Limited (RIL) and Rohm and Haas Company have entered into a Memorandum of Understanding (MOU) to explore the joint construction of a world-scale acrylic-monomer complex in Jamnagar, India.
This proposed facility would have the capacity to make approximately 200,000 tonnes of acrylic acid and its esters annually. While the key objective would be to serve domestic market needs, the complex could also export acrylic acid and derivatives.
Materials from the facility are intended to serve as building blocks for environmentally advanced products for paints and coatings, packaging adhesives, detergents, textile and construction materials. The new facility is expected to spur development of super absorbent polymers, used primarily in the manufacture of baby diapers.
The joint initiative involves two strong industry leaders with complementary strengths and skills. The proposed acrylic acid plant is expected to be world-scale, be located at a site with world-class infrastructure, and use Rohm and Haas’s leading technology.
Reliance Industries and Rohm and Haas are committed to exploring the option to collaborate in the downstream specialty polymers and chemicals areas in the Indian subcontinent.
Reliance Industries Limited
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with turnover of Rs 89,124 crore (US$ 20 billion), cash profit of Rs 13,174 crore (US$ 3 billion), net profit of Rs 9,069 crore (US$ 2 billion), net worth of Rs 49,804 crore (US$ 11 billion) and total assets of Rs 93,095 crore (US$ 20.9 billion).
RIL is the first and only private sector company from India to feature since 2004 Fortune Global 500 list of ‘World’s Largest Corporations’ and ranks amongst the world’s Top 200 companies in terms of profits. RIL emerged in the world’s 10 most respected energy/chemicals companies and amongst the top 50 companies that create the most value for their shareholders in a global survey and research conducted by PricewaterhouseCoopers and Financial Times in 2004. RIL also features in the Forbes Global list of world’s 400 best big companies and in FT Global 500 list of world’s largest companies.
About Rohm and Haas Company:
Leading the way since 1909, Rohm and Haas is a global pioneer in the creation and development of innovative technologies and solutions for the specialty materials industry. The company's technologies are found in a wide range of markets including: Building and Construction, Electronics, Food and Retail, Household and Personal Care, Industrial Process, Packaging, Paper, Transportation and Water. Our innovative technologies and solutions help to improve life everyday, around the world. Based in Philadelphia, PA, the company generated annual sales of approximately $8.2 billion in 2006. Visit www.rohmhaas.com more information. Rohm and Haas…. imagine the possibilities(TM)
