Chennai, India – Manali Petrochemicals will use Notedome to get closer to the market and grow sales, the firm said in an statement to the Bombay Stock Market.
Manali, a polyolos producer, purchased UK-based Notedome in October 2016. Manali said that it and Notedome are complementary businesses and it will use Notedome’s contacts in 45 countries to sell its products overseas. This will help Manali to decide on its future routes for expansion, the statement said.
Given that Notedome is headquartered in Coventry, UK, the threat of Brexit is: “Not an immediate concern,” Manali said.
The firm added that “a fully-fledged analysis is yet to be done as regards the potential for Notedome’s products in India.” Manali added that the PU market in India is “nascent and is an unorganised market that is expected to develop over the next few years.”