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Nuplex to Form Resins JV in Russia

7:18 AM MST | January 20, 2012 | Ian Young

Polymer resins producer Nuplex Industries (Auckland, New Zealand) says that its European subsidiary, Nuplex Resins, has signed an agreement to establish a 50-50 joint venture with paints and resins maker KVIL Group (Belgorod, Russia). The jv will initially be responsible for the exclusive sales and marketing in Russia of resins produced by KVIL and Nuplex. The jv is expected to be created during this quarter, at which time Nuplex will invest €3.5 million mainly for working capital. The agreement also provides for the jv to build a resins manufacturing plant...

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