Scapa Group plc (LDN: SCPA.L), the global adhesive solutions and components manufacturer, has set up a wholly owned subsidiary, Scapa Tapes India Pvt Limited. The division will support the rapidly growing Indian market, whose GDP is forecasted to grow at over 8% over the coming years.
Scapa already has subsidiaries in China, Korea and Malaysia; and the existing sales offices of New Delhi and Mumbai will be integrated into the Indian structure. Mr Heejae Chae, Scapa Group's CEO, said "The creation of Scapa Tapes India solidifies our investments in the Asian high growth markets. We are deepening our commitment to global and Indian customers, by aligning ourselves further to their requirements."
Mr. Balaji Balasundaram, country manager for Scapa Tapes India, added "This set up puts us in an optimal position to respond to the growing demand from global and Indian OEM's and distributors. India has extraordinary prospects for some of Scapa's key markets, including Medical, Electronics, Cable and Printing and Graphics".