Reliance Industries (RIL) has entered into a license agreement with Germany's Resysta International GmbH which gives RIL exclusive rights of production and marketing of RelWood, a Natural Fiber Polymer Composite, in India.
This compound will be the raw material for production of sheets and various profiles used in a wide range of wood and plywood replacement applications, RIL said here.
"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," Vipul Shah, COO Petchem, RIL 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," Bernd Duna, CEO of Resysta International, said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)