Zavenir and Kluthe Group announced a major strategic 50:50 joint venture, named Zavenir Kluthe. The aim of this tie-up is to cater the needs of the automotive, automotive ancillary, heavy engineering, and plastic industry. According to the terms of the tie-up, Zavenir will help 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, and this joint venture is an extension of their 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’s leverage with global customers in these industries combined with Zavenir’s domestic infrastructure in manufacturing and sales of specialty chemical products will provide synergies that would enable Zavenir Kluthe to establish a leadership position in the Indian metal working fluid and surface treatment markets.
Saket Bhartia, MD, Zavenir, said, “Zavenir has, in the past, built up a leadership position in the Indian corrosion prevention markets, and with this strong commitment from Kluthe, Zavenir Kluthe aspires to become one of the top three players in the Rs 20 billion metal working fluid market by 2020.”
Martin Kluthe, MD, 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 an extension of the partnership, we are planning on setting up a technology centre and state-of-the-art plant in Western India to cater to the ever growing Indian markets by 2020.”