MUMBAI(: Rain Industries Ltd (BSE:500339, NSE: RAIN) has announced that its step down wholly owned subsidiary Rain Carbon Inc, will set up a new resin polymerization and hydrogenation plant in Castrop-Rauxel, Germany. The construction will begin in mid July at its integrated coal tar and petrochemical site. Rain Carbon Inc is one of the leading producer of carbon-based products.
The plant hydrogenated water-white resins will serve as a cornerstone of Rain Carbon’s new Advanced Materials product segment. Once operational in the third quarter of 2019, the plant will have a resins production capacity of up to 50,000 tons per year.
“In recent years, advances in science and engineering have unleashed the potential of coal and petro tars – two of our core raw materials – and we are rapidly mobilizing to leverage new opportunities to deliver advanced materials designed for lighter, faster and greener 21st-century applications,”said Rain Carbon President Gerard Sweeney. “Hydrogenation is the next step for hydrocarbon resin producers, to satisfy evolving regulatory requirements and growing demand by consumer- and industrial-goods manufacturers for cleaner and safer raw materials,” Sweeney explained.