Nynas looks to expand in India
Gert Wendroth, president and CEO of Nynas AB, is looking to expand its footprint in India by setting up more depots and expanding its sales force.
The Swedish specialty oil manufacturer is currently present in Delhi, Mumbai and Chennai, and is looking for more people to join its sales team in India.
“The tyre market is growing fast in India, and Asia, in general, is experiencing growth rates much higher than in Europe. Production is shifting to the east and traditional strong players are going to growing markets. With production centres moving to these countries, not only export but domestic markets in South and Southeast Asia, especially India and China, are important to Nynas’ growth strategy,” said Wendroth.
Approximately 90% of all rubber produced globally, goes into tyres, which is why Nynas is focusing on this segment. The EU introduced a ban on highly aromatic oils in 2010, which was followed by labelling requirements in 2012 to provide consumers with better information about a tyre’s breaking performance and rolling resistance, which are key to safety and environmental performance. Even China has decided to gradually introduce uniform labelling as well. The Chinese labelling system is voluntary in 2017, but will become mandatory in 2018.
India currently does not have legislation mandating the use of safe oils in tyre manufacturing. However, to be able to export their products to Europe and other markets, Indian tyre manufacturers will have to use safe oils in tyre manufacturing. Nynas is already supplying safe oils to this segment in India out of Singapore.