Notice concerning the concluding of business alliance agreement with textile chemical supplier in India
NICCA CHEMICAL CO., LTD. (Address: Fukui City, Japan; hereinafter "NICCA") is pleased to announce the conclusion of a business alliance agreement on its core business textile chemicals with India's textile chemical supplier Resil Chemicals Private Limited (More details are as follows, hereinafter "Resil").
India is a leading textile market with a focus on cotton textiles however processing of synthetic textile products has been growing in recent years, and now it is the second largest market after China. NICCA Group has traditionally exported and sold textile processing chemicals individually, however in line with the policy of strengthening sales in the Southwest Asia region in the medium-term management plan, we judged that collaborating with Resil, which has high technical strength to accelerate business development is the most effective, and we have reached a business alliance with this time.
The main contract details and the main outline of Resil are as follows.
<Main Contract Contents>
· NICCA grants Resil an exclusive distribution right in NICCA products in India and Sri Lanka.
· Resil grants NICCA exclusive sales rights for Resil products in Japan, Korea, Taiwan, China, Vietnam, Thailand, Indonesia, the United States, etc.
· Contract period is until August 2019. (Meanwhile, we determine the deployment policy afterwards)
<Overview of Resil>
· Official company name / Resil Chemicals Private Limited
· Headquarter / Bangalore, Karnataka, India
· Business description / Manufacture, sale and export of chemical products, mainly silicone
· Establishment / 1994
· Number of Employees / 350
· Sales / Approximately 30 million USD
· Others / Private company. Strengths in the development, proposal and technical support of a wide range of silicon-based products.