Henkel opens new Loctite plant in India, reports strong financial performance
Henkel Adhesives Technologies India (Henkel India) has completed phase III of its manufacturing facility in Kurkumbh, near Pune, Maharashtra. This expansion includes a new Loctite plant to meet India's growing demand for adhesives, sealants, and surface treatment products.
22 Jul 2024 | By Anushka Chourasia
The Kurkumbh facility, launched in 2020, is part of Henkel’s plan to grow in India. Mark Dorn, executive vice president at Henkel Adhesive Technologies, and other senior leaders inaugurated the new Loctite plant.
In other Henkel news, the company has shared its preliminary financial results for the first half of 2024, which indicate that it performed well. Sales amounted to 10,813-million euros, showing a 2.9% organic sales growth. The adjusted EBIT margin also increased to 14.9% from 11.5% last year, and adjusted earnings per preferred share were 2.78-euros in the first half of 2024. Henkel CEO Carsten Knobel attributed this success to strategic measures and initiatives.
The adhesive technologies unit reported sales of 5,475-million euros, with a 2.0% organic growth and an adjusted operating profit increase to 933-million euros. Additionally, the consumer brands unit achieved sales of 5,266-million euros, with a 4.3% organic growth and an adjusted operating profit increase to 753-million euros.
Speaking about the Loctite plant, Dorn of Henkel said, "India is a key focus for Henkel globally. The new Loctite plant demonstrates our commitment to establishing a strong local presence."
S Sunil Kumar, country president of Henkel India, added, "The new plant features an automated storage and retrieval system (ASRS) for efficient material handling and will use industry 4.0 technology to optimise production efficiency. This supports the Make in India initiative."
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