New Delhi – Paracoat Products, which makes polyurethane NVH products in India, is planning to expand into Central Europe this year. It may move into Vietnam as well.
'We are planning to open a sales office in Central Europe to cater that market aggressively,' said Virendra Poddar. He is a director of Paracoat Products and he was talking at the recent Auto Expo 2020.
Vietnam is evolving as a major automobile market and Paracoat is mulling setting up a new factory and sales office there.
'The Automobile sector is growing in Vietnam. Passenger car sales have crossed 250,000 units annually. They are expected to double in the next five years,' Poddar said.
Paracoat's polyurethane foam (PU) section is based in India and Thailand. This division's factories make wide range of PU moulded products. These include insulation for dashboards, hoods, roofs, floors and other areas. The company also makes similar products for commercial vehicles.
The company is headquartered in Gurugram, Haryana, which is near Delhi. It operates four sites in India: Bhiwadi, Rajasthan; Halol, Gujarat; Pune, Maharashtra; and, Hosur ,Tamil Nadu. Paracoat also has an overseas plant in Chachoengsao, Thailand.
Three sites of Bhiwadi, Halol , Hosur and Chachoengsao make PU components.
Paracoat stated business in 1974 and makes parts to order for 40 OEMs in India. The Thai site is a joint venture with part of Nihon Seima of Japan. Paracoat also has an expandable foam JV with Japan's Parker Corporation.