Mumbai, April 26: To meet the fast-growing demand of real alternative to tropical wood, Reliance Industries Ltd (RIL) today announced that it has entered into a license agreement with Resysta International GmbH (Resysta) which gives RIL exclusive rights of production and marketing of RelWood, a Natural Fiber Polymer Composite (NFPC), in India. This compound will be the raw material for the production of sheets & various profiles used in a wide range of wood & plywood replacement applications.
Reliance Industries Limited (RIL) is India’s largest private sector company, with a consolidated turnover of INR 330,180 crore ($ 50.9 billion) and net profit of INR 29,901 crore ($ 4.6 billion) for the year ended March 31, 2017. Founded in 2011, Resysta is a privately-owned technology company which is cooperating with leading industry partners worldwide to leverage the large potential of the unique Resysta material in its innumerable wood substitution applications.
Vipul Shah, COO Petchem, RIL, said “Through this strategic partnership with Resysta, RIL is looking forward to produce the RelWood compound exclusively in order to meet the fast-growing demand of real alternative to tropical wood. This agreement is further evidence of RIL’s commitment to sustainable initiatives based on innovative technology. Resysta is a leading German innovator, and together we will offer Indian consumers cutting edge technological product as an alternative to natural wood.”
“Some miracles happen and some are invented” Resysta succeeded where many others failed by developing a weather and water-resistant material which truly has the look and feel of wood, which is not affected by termites, does not splinter or rot over time, is obtained using a renewable resource and is fully recyclable. It even weathers salt water, sun and wind. The material is a key innovation that was needed to address the crisis of shrinking rainforests, as well as the inferior quality of wood composite products that were used before. This is based on a unique technology which allows the dispersion of natural fiber within the polymer matrix.
Bernd Duna, CEO of Resysta International, said, “We are currently licensing our technology across the world, and have found in Reliance Industries our perfect partner for India. By manufacturing the Resysta Compound locally, the products become even more environment friendly and easily available. As a leading petrochemicals manufacturer in India, RIL is ideally poised to manufacture on a par with our high worldwide standard. We look forward to continuing Resysta’s success story in India in partnership with RIL.” RIL is the first private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations. The industry ranks 121st on the Forbes Global 2000 list (2016), continuing to be the top-ranked Indian company.