India has opened its markets to Ferrinov anticorrosion pigments, with the signing of an exclusive multi-year agreement with Perfo Chem (India) Pvt. Ltd., a member company of chemical solutions provider S. Amit & Co.
Ferrinov’s “major technological breakthrough” in its production of anticorrosion pigments continues to open new doors for the Canadian company, the company said in a statement.
The deal calls for the delivery of 600 tons of anticorrosion pigments for the industrial paint sector by the end of the first year of the contract—a quantity that will increase significantly each year, Ferrinov said.
“We are delighted that our new partner has placed its trust in our company,” said Ferrinov president Louis Archambault. “This additional distribution agreement will certainly enable us to boost production at our plant in Sorel-Tracy, Québec.”
This is the second distribution agreement between Ferrinov and an Asia-based company. In June 2009, the company inked an exclusive five-year pact with Wonder Technology Ltd. for the Chinese market.
China and India make up about 35% of the world market for industrial paint pigments, estimated at 200,000 tons per year.
“We will need to examine the possibility of building a plant in Asia within a few years to keep up with the huge potential of the Chinese and Indian markets,” Archambault said.
Said Amit Mehta, Director of Perfo Chem (India) Pvt. Ltd.: “We are pleased that Ferrinov has selected our company to distribute its pigments. India’s industrial paints manufacturers will be extremely impressed by the benefits of Ferrinov’s ‘green’ pigments. The company’s innovative process makes it possible to produce much longer-lasting paints.”
Through a patented process based on recovery of steel dust, Ferrinov says it manufactures high-performance and ecologically friendly anticorrosion pigments that are compatible with all paint formulas. Its hydrometallurgical pigment manufacturing process consumes only 15% of the energy used by conventional technologies, the company says. Ferrinov, based in Montreal, was founded in 1998.
Perfo Chem (India) Pvt. Ltd. is a member company of the S. Amit & Co. group, a major supplier of chemical solutions with a history that spans more than six decades.