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History of Refnol Resins and Chemicals Ltd.

Refnol Resins And Chemicals Limited [ Refnol s] was incorporated on 1st December 1980 as a Private Limited Comp. as Refnol Oil Refineries Pvt. limited & converted into a Public Limited Comp. vide Special Resolution dated 30th September 1994 & Certificate dated 26th October 1994 was obtained from Registrar of Companies, Maharastra, Bombay.The Comp. forms part of well known Mahendra Khatau group of Companies & is promoted by Shri Mahendra Khatau & Shri Anil Khatau.

Refnol commenced its commercial operations in 1981-82 by setting up a plant for re-refining of waste lubricating oils. However, in 1987, the Comp. undertook a major diversification by commencing manufacture of textile sizing chemicals in technical collaboration with M/s. Seydel International Inc., Atlanta, U.S.A. The sizing chemicals identified & produced by Refnol consist of range at highly specialised items not commonly manufactured by many.

Thus the Comp. has a dominant market position with regards to these products. These products are mostly sold through its associated concern, M/s.Indokem Ltd., to textile Mills & sizing units all over the country. M/s Indokem limited have over 40 years of experience in selling dyes & chemicals to the textile industry, & have a full fledged technical sales team for Refnol sizing products which operate through their Head Office in Bombay & 7 branch offices located at various places all over the country.

Since 1989, the Comp. has also started manufacturing saturated/ unsaturated polyester resins, which have diversified applications in fibre glass composites, cultured marble, etc. The Comp. has achieved noteworthy success on this front also, through persistent R and D activities. The Comp. also makes a range of saturated polyesters for powder coatings & plasticizers. It has recently introduced a range of polyester polyurethane adhesives used in the fast growing field of flexible packaging,and a limited range of phenolic & epoxy resins, which like unsaturated polyesters are thermosets & find application in laminates, construction, adhesives, electronics etc.

In the year 1993-94 the Comp. expanded its capacity by adding certain equipments & creating additional infrastructural facilities. To tap the export market, the Comp. also went in for a renewal of its collaboration agreement with the existing collaborators by adding a range of new products in the same product family. At present, about 50% of exports are made to the collaborators of Comp. on a buy-back basis & the balance are on direct basis. The Comp. has added a large number of additional products to its product range in the category of textile sizing chemicals as well as resins. This has effected a substantial increase in the value addition & has strengthened the product-mix of company.

The present project involves:

* expansion for creation of further capacities.

* process automation & modernisation for increase in the yield & output.

* improving material handling & storage facilities.

* creation of systematic infrastructure for giving a boost to the export drive.

* effective marketing of company products.

The Comp. has set up a subsidiary Comp. in the name of Refnol Overseas Ltd., in Mauritius which will be used as a base for eventually setting up manufacturing facilities in the UAE & which would also act as the marketnig outlet for increasing exports. Till date the Comp. has not faced any labour problems & there has been no closure.