Recticel, the Belgian group, is specialised in polyurethane foam products for a large number of industrial applications. Having incorporated itself in India in 2011, the company is now gradually expanding its presence and product portfolio in the country. Abhijit Diwadkar, Country Manager, Recticel India Pvt Ltd speaks to Power Today at the sidelines of Power Gen about the company and its future outlook.
Could you tell us about the organisation´s foray into the Indian market and the current market scenario? We got incorporated in India in 2011. By June 2012 we started trading. In September 2013 we started our second plant in Bangalore. In our business the material doesn´t travel very well. India is a big country and by the time you ship everything, the cost of transportation works out to be very high. That is why we decided to have Bangalore as the second location. Then we started importing materials straight from southern ports. This year the way things are going, there is definitely a slowdown, but I hope things will improve and we will come close to our budget. But overall I think the potential is fantastic. The market is still not matured because there are so many things that are available that people are not aware of. But things are changing. People who have the global exposure, they know what specifications they are talking about and what is the benefit of using those products.
There are a number of industries you cater to. Which are the ones that are most profitable to the overall business? Today we are focusing on the automotive sector, which is a very big subject. The next sector we are focusing upon is mainly generators, compressors, boilers, turbines where awareness of sound insulation is becoming extremely important in this country. Building acoustics is gaining popularity and is becoming important and people are willing to spend money on it.
What will be your core focus areas for this year and your business expansion plans? The focus area at the moment is automotive and acoustics for this year. We are not too sure of going into a specific new region and we are working on it. Hopefully we will have a decision by end of this year or early next year. The investments for India are already allocated and India being a slightly different market we have to approach this market step by step.
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