By IANS,
Mumbai : Supreme Petrochem Ltd (SPL) and NOVA Chemicals (International) S.A. announced Tuesday an exclusive distribution agreement for ARCEL advanced foam resin in India.
“This new distribution capability supports NOVA Chemicals’ strategy to shorten the supply chain for Asian markets as demand for ARCEL resin continues to grow in the region,” said Tim Wong, NOVA Chemicals’ managing director for ARCEL resin in Asia.
ARCEL resin delivers significant value as a protective packaging material for televisions, computers, printers, appliances and furniture, he said.
“By enabling reductions in package sizes, ARCEL resin provides significant environmental benefits as more capacity is added to every truck, container and pallet, leading to fewer shipments, less fuel consumption and reduced transportation emissions,” he added.
With export of electronics and consumer durables picking up rapidly, demand for ARCEL resin is expected to grow and in mature markets it can go up 4-5 percent.
M.P. Taparia, SPL’s chairman, said its partnership with NOVA will support the growth of ARCEL resin in India, bringing significant value to Indian exporters.