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ICICI Securities Report
Grasim Industries Ltd. has entered into a definitive agreement with Lubrizol Advanced Materials (LAM) to manufacture and supply chlorinated polyvinyl chloride (CPVC) resin in India with first phase of production expected to start in late CY22.
We understand LAM's current supplies of CPVC compound to its existing two licensees (Prince Pipes & Fittings Ltd. and Ashirvad) is likely to exceed 55,000 tonnes in FY21.
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