Company History - Refnol Resin
Refnol Resins And Chemicals Limited ( Refnol ) was incorporated on 1st
December 1980 as a Private Limited Company as Refnol Oil Refineries
Pvt. Ltd. and converted into a Public Limited Company vide Special
Resolution dated 30th September 1994 and Certificate dated 26th
October 1994 was obtained from Registrar of Companies, Maharastra,
Bombay.The company forms part of the well known Mahendra Khatau group
of Companies and is promoted by Shri Mahendra Khatau and Shri Anil
Refnol commenced its commercial operations in 1981-82 by setting up a
plant for re-refining of waste lubricating oils. However, in 1987,
the Company undertook a major diversification by commencing
manufacture of textile sizing chemicals in technical collaboration
with M/s. Seydel International Inc., Atlanta, U.S.A. The sizing
chemicals identified and produced by Refnol consist of a range at
highly specialised items not commonly manufactured by many.
Thus the company has a dominant market position with regards to these
products. These products are mostly sold through its associated
concern, M/s.Indokem Ltd., to textile Mills and sizing units all over
the country. M/s Indokem Ltd. have over 40 years of experience in
selling dyes and chemicals to the textile industry, and have a full
fledged technical sales team for Refnol's sizing products which
operate through their Head Office in Bombay and 7 branch offices
located at various places all over the country.
Since 1989, the company has also started manufacturing saturated/
unsaturated polyester resins, which have diversified applications in
fibre glass composites, cultured marble, etc. The company has
achieved noteworthy success on this front also, through persistent R
& D activities. The company also makes a range of saturated
polyesters for powder coatings and plasticizers. It has recently
introduced a range of polyester polyurethane adhesives used in the
fast growing field of flexible packaging,and a limited range of
phenolic and epoxy resins, which like unsaturated polyesters are
thermosets and find application in laminates, construction,
adhesives, electronics etc.
In the year 1993-94 the company expanded its capacity by adding
certain equipments and creating additional infrastructural
facilities. To tap the export market, the company also went in for a
renewal of its collaboration agreement with the existing collaborators
by adding a range of new products in the same product family. At
present, about 50% of the exports are made to the collaborators of
the company on a buy-back basis and the balance are on direct basis.
The company has added a large number of additional products to its
product range in the category of textile sizing chemicals as well as
resins. This has effected a substantial increase in the value
addition and has strengthened the product-mix of the company.
The present project involves:
* expansion for creation of further capacities.
* process automation and modernisation for increase in the yield and
* improving material handling and storage facilities.
* creation of a systematic infrastructure for giving a boost to the
* effective marketing of the company's products.
The company has set up a subsidiary company in the name of Refnol
Overseas Ltd., in Mauritius which will be used as a base for
eventually setting up manufacturing facilities in the UAE and which
would also act as the marketnig outlet for increasing exports. Till
date the Company has not faced any labour problems and there has been