According to The Hindu Business Line, Kothari Petrochemicals Ltd is expanding its reach in South-East Asia through its overseas subsidiaries. The Chennai, India-based company has said in an announcement to the National Stock Exchange (of India Ltd) that its subsidiary Kothari Petrochemicals Pte Ltd, Singapore, floated in July, has now spawned a step-down subsidiary in Hong Kong, Kothari Petrochemicals HK Ltd.
According to the HC Kothari Groups web site and its annual report for 2012-13, it is the largest manufacturer of polybutene in India and is expanding its markets overseas.
Last year, the company secured a contract to supply its product to British Petroleums lube manufacturing plants in Asia and, during the year, to supply Pertamina, the Indonesia government-owned oil company. It supplies to leading multinational oil companies and exports to over 20 countries.
In the financial year 2007-2008, Kothari Petrochemicals commissioned a manufacturing plant in Manali, near Chennai, that doubled the company's production capacity of polyisobutylene to 22,000 MT per annum in order to supply polyisobutylene worldwide. Kothari Petrochemicals has offices in Chennai, Manali, Mumbai and Belgium, and supplies customers in 20 countries around the world.
KVIS is the trade name of polybutene produced by Kothari Petrochemicals. KVIS is a linear polymer of isobutylene of different molecular weights, The product finds use in lubricants, sealants, paints and wrap films used in packaging.
For 2012-13, the company reported growth in income at Rs 261 crore (USD 41.3 million), compared with Rs 175 crore in the previous year. It reported a net profit of Rs 5.20 crore, from INR 4.28 crore a year ago
