Zavenir And Kluthe Group Formed A 50:50 Joint Venture
Zavenir and Kluthe Group Formed a 50:50 Joint Venture
Zavenir and Kluthe Group at a press conference in the Oberoi Hotel, Gurugram, on 19 July 2017, announced a major strategic 50:50 joint venture, named Zavenir Kluthe. The aim of this tie-up is to cater the needs of automotive, automotive ancillaries, heavy engineering, and plastic industry.
According to the terms of the tie-up, Zavenir will help the venture with its domestic infrastructure in marketing and sales of specialty chemical products. On the other hand, by sharing its state-of-the-art- technologies, Kluthe will bring in competitiveness to users apart from enabling them to adopt solutions which are greener. Owing to this tie up there would be an increase in employment in Gurugram.
Since 2011 Zavenir has been a licensee partner of Kluthe Group, this joint venture is an extension of this relationship aimed at increasing the manufacturing, marketing, and sales of all Kluthe’s products and technologies in the field of metal working fluids, surface treatment, and paint shop management.
Kluthe leverage with Global customers in these industries combined with Zavenir’s domestic infrastructure in manufacturing and sales of specialty chemical products provide synergies which can enable Zavenir Kluthe to establish a leadership position in the Indian metal working fluid and surface treatment markets.
Mr. Saket Bhartia, Managing Director of Zavenir, said, “Zavenir has in the past built up a leadership position in the Indian corrosion prevention markets, with this strong commitment from Kluthe, Zavenir Kluthe aspire to become a top 3 player in the INR 20 Billion metal working fluid market by 2020.”
Mr. Martin Kluthe, Managing Director of Kluthe Group (Germany) said, “Zavenir has for long been a trustworthy licensee of Kluthe Group, and nobody better than Zavenir could cater to our needs of expansion in the Indian market. As a venture extension of the partnership, we are planning on setting up a technology center and state of the art –plant in Western India to cater to ever growing Indian markets by 2020.”
Saket Bhartia and Martin Kluthe shake hands at the Press Conference
Saket Bhartia and Martin Kluthe signing the MoU
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