Mumbai: Reliance Industries Ltd (RIL) on Wednesday said it has entered into a licence agreement with Germany based Resysta International GmbH, which gives RIL the exclusive rights of production and marketing of a natural fibre polymer composite (NFPC) in India.
"Through this strategic partnership with Resysta, RIL is looking forward to produce the RelWood compound exclusively in order to meet the fast-growing demand of real alternative to tropical wood," said Vipul Shah, COO Petchem, RIL.
This compound will be the raw material for the production of sheets and various profiles used in a wide range of wood plywood replacement applications.
The German company succeeded where many others failed by developing a weather and water-resistant material which has the look and feel of wood, which is not affected by termites, does not splinter or rot over time, is obtained using a renewable resource and is fully recyclable, a statement said.
"We are currently licensing our technology across the world and have found the petrochemicals manufacturer as our perfect partner for India. RIL is ideally poised to manufacture on a par with our high worldwide standard," said Bernd Duna, CEO of Resysta International.
"It (the composite) even weathers salt water, sun and wind. The material is a key innovation that was needed to address the crisis of shrinking rainforests, as well as the inferior quality of wood composite products that were used before," the company added.
Published Date: Apr 27, 2017 08:50 am | Updated Date: Apr 27, 2017 08:50 am