Voltas Limited and Dow Chemical Pacific (Singapore) Pte. Ltd., a member of the Dow Group Companies ("Dow Group"), have agreed to establish a joint venture company in India, to tap the growing Water and Waste Water treatment market in the country. The proposed new company - Voltas Water Solutions Private Limited - will be an equal partnership joint venture.
The company will market and distribute standard packaged Water Treatment Systems and Waste Water Treatment Systems of capacity up to 20 m 3/hour, to residential and commercial complexes and light industrial markets in the Indian subcontinent. The entity's operations would include designing, procuring, testing, marketing, selling and servicing of such standard water treatment systems and waste water treatment systems.
Snehal Desai, Global Business Leader for the water and process solutions division of Dow Group, commented: "We are proud to form an alliance with Voltas Limited, a Tata company. Water treatment has significant business potential in India, and Voltas is an ideal partner with a strong brand reputation, and a wide-spread sales and service network. As part of our long-term strategy, we intend to establish the joint venture, to fully exploit the untapped potential of the Indian market. This joint venture is a significant step towards further strengthening our position in mid-market water systems in India."
Sanjay Johri, Managing Director of Voltas Ltd, said, "Water has been identified as a key focus area for the Tata group, and we are very happy to work with Dow Group, in this area. With its unrivalled know-how and technological leadership in the water treatment space, the partnership, will help Voltas Water Solutions cater to the growing water treatment requirements of the Indian subcontinent. The partnership will simultaneously leverage the brand and distribution strength of Voltas, along with the technology prowess of the water and process solutions division of the Dow Group. We will work towards establishing the joint venture as a leading provider of water treatment solutions."
The Water and Waste Water Treatment market targeted by the new company is largely catered to today by unorganized players. The new joint venture will provide a branded and differentiated product line, with a focus on quality and service delivery.
About Dow Group
Dow Chemical Pacific (Singapore) Pte Ltd was established in 1992. Catering to customers in Asia Pacific, particularly South East Asia, Dow Group combines the power of science and technology to passionately innovate what is essential to human progress. The company is driving innovations that extract value from the Intersection of chemical, physical and biological sciences to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. The company's integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in high growth sectors such as packaging, electronics, water, coatings and agriculture.
SOURCE: Dow Group