CorporateOffice:TipcoPlaza,RaniSatiMarg,Malad(E),Mumbai400097.Indiawww.tipco.in

PRESSRELEASE21-July-2017,Mumbai,India

AutotechPolymersIndiaPvt.Ltd.,aleadingsupplierofspecialtyPolypropyleneCompoundsandSirmaxS.p.A.ofItaly,havejoinedhandstoestablishajointventureinIndia.UndertheinitiativeofHon.PrimeMinisterSh.NarendraModito“MakeInIndia”,thisjointventure,whichwillbecalled“AutotechSirmaxIndiaPvt.Ltd.”willbeoneofthefewIndiancompanies with capabilities to supply speciality polymers, resins & thermoplasticscompounds using the latest state-of-the-art manufacturing & know-how to provideindigenous solutions for the rapidly growing industry segments such as Automotives,Electronics,Appliances,Electricals,etc.According to the terms of the JV agreement, Sirmax becomes 50% partner in Autotech-Sirmax.Theremaining50%willbeheldbytheNirmalThakkarfamilywhoarepromotersofthe 72 years old Tipco Group. The management team of the joint venture will focus onproductionofSpecialtyPolypropyleneandEngineeringThermoplasticcompoundswhichwillbeaugmentedbythelicenseanduseofSirmaxtechnology,brandsandglobalapprovalsthatwillcatertoIndia’sgrowingdemandforhighquality,superiorperformancethermoplasticscompounds.

MassimoPavinofSirmaxandAchalThakkarofTipcoGroupsigntheJVagreementsinCittadella,Italy

Sirmax is Europe’s No. 1 non-integrated compounder of Polypropylene & EngineeringThermoplastics and a leading international supplier to global MNCs. Apart from PPcompounds,SirmaxalsoproducesawiderangeofEngineeringThermoplasticsCompounds

CorporateOffice:TipcoPlaza,RaniSatiMarg,Malad(E),Mumbai400097.Indiawww.tipco.in

based on Polyamide-6/66, PPO, ABS, ASA, Polycarbonate, PC/ABS,POM, PBTandStyrenics.They cater to awide variety ofmarkets, fromappliance and households toautomotive,powertools,packagingandmore.Sirmax hasmore than50-years of experience in theworld of plastics compounding. Theyhave three production sites in Italy (Cittadella, Tombolo & San Vito Tagliamento),one each inPoland (Kutno), Brasil (Jundiaí)&USA (Indiana). Sirmaxhas total of 36speciality twin-screwcompoundingextruders globally,withoutputs ranging from30 to4000 kg/hr. TheannualturnoverofSirmaxforyear2016was€220millionwithatotalsalesvolumeof135kT.AutotechPolymers,partoftheTipcoGroup,hastwofactoriesinIndia;atValsad(Gujarat)andnear Palwal (Haryana), aswell as a distribution centre atHosur (TN). In the short-term, thejoint venture plans to reach annual sales of 40 kT/year by adding new lines at Valsad &Palwal,bydebottlenecking, andplanninga third factory to cater toSouth India.AutotechPolymers, through this JV, will continue to serve OEMs such as Maruti-Suzuki, Hyundai,Honda,TataMotors,Bajaj,Toyota,HeroMotoCorp,Mahindra,etc.andcatertoitsgrowingclientbaseofover400tier-1/processorsinIndia.