Phillips Carbon moves to new owner - sort of

ERJ staff report (DS)

Kolkata, India -- The RPG group has divided some of its assets, including Phillips Carbon Black Ltd., into a new company. The assets concerned are all managed by one of the Goenka sons, Sanjiv Goenka. The new company is called RP-Sanjiv Goenka Group

The plan to divide some of RPG group assets was announced in 2010 by the patriarch of the RPG group, Dr. R.P. Goenka.

Giving further details, Sanjiv Goenka said in a press release, "I am happy and delighted to present the new Group identity of the RP-Sanjiv Goenka Group. The new logo takes birth from an arrow head which personifies speed, progressiveness and focus. Six such arrow heads converge at a "common goal" forming the Dhanuchakra - the logo identity of the Group."

Giving an update of the carbon black business, Goenka confirmed that PCBL is currently ranked at No. 8 globally. Making already its global footprint, a 110,000 MT capacity carbon black plant is being set up in Vietnam which is expected to be ready during FY'13. Domestic demand for carbon black is expected to grow at the rate of 7-8 percent during the current Financial Year. With major expansion programs totaling `2000 crore in 3 years within the country, PCBL is aiming for thesixth slot in the world carbon black ranking.

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Press release from RP-Sanjiv Goenka Group