Reco Cement Products LLC (the “Company”) is very pleased to announce that on March 25, 2015 the Company signed a Master License Agreement with Roman Ecological Cement Products Private Limited (“Roman Ecological”), pursuant to which Roman Ecological has been granted the exclusive right in the Republic of India to manufacture cementitious design mixes utilizing the Company’s intellectual property. Roman Ecological also has the right to sublicense the Company’s intellectual property to other third parties in India.
Roman Ecological is an affiliate of the Navrattan Group, a multinational conglomerate with interests in a wide range of industries, including the production and sale of green construction materials, property development, the hospitality industry and the entertainment industry.
“We are very excited to have Roman Ecological as a partner,” said David Lisowski, the founder and Chief Executive Officer of the Company. “Himanshu Verma, Roman Ecological’s founder and Chairman, is a visionary whose goal is to pioneer a green technology revolution in India by introducing and commercializing the most advanced inventions and technologies available.”
This partnership represents an enormous opportunity for Reco Cement. India is the second largest market for Portland cement in the world. According to the U.S. Geological Survey, production totaled an estimated 260 million tons in 2014. According to the Indian Brand Equity Foundation, a division of the Republic of India’s Department of Commerce, production is projected to grow to 407 million tons in 2017. Cement production in India, which grew at a compound annual growth rate of 8.3% during the 2007-2013 period, is expected to grow at a compound annual growth rate of 8.96% during the 2014-2019 period.
“Roman Ecological and Reco Cement are literally pioneering a revolution in the cement manufacturing industry, an industry which has been unchanged in the last 200 years,” says Verma. “Aside from the increased quality, this contributes greatly to the environment. Worldwide, 8 percent of carbon emissions come from cement factories, and at this moment India is the second-largest producer in the world.”
Roman Ecological has begun construction of its first factory in Rajpura, Punjab, which is located in northern India. The factory will be located less than a half-mile away from a Larsen & Toubro power plant. Earlier this year, Roman Ecological signed a 24-year supply agreement with Larsen & Toubro, one of India’s premier power companies, pursuant to which Larsen & Toubro will provide Roman Ecological with a dedicated source of fly ash.
The website for Roman Ecological Cement Products Private Limited can be found here: http://www.romancementindia.com/
The website for the Navrattan Group can be found here: http://www.navrattangroup.com/
