MUMBAI, July 19: ICI India, the Indian subsidiary of the UK-based Imperial Chemicals Industries Plc, is increasing its board strength from 11 to 14 by inducting three divisional chiefs onto the company's board.

Param Bhargava, vice-president of the paints division which contributes 40 per cent to the company's turnover, has been elevated to the post of wholetime director. RL Jain, vice-president of the explosives division and MR Rajaram, vice-president, corporate development, have also been promoted as wholetime directors. The changes reflect the ongoing restructuring at ICI as part of which it has taken a conscious decision to move out of all non-core businesses and strengthen its core businesses in India.

The company sees immense future in explosives, other than paints as a key area of growth. While it has hived off its initiating explosives business into a new joint venture, primarily for the technology that partner Ensign Bickford would infuse, it still retains the bulk explosives businesses.

Though this area has seen low growth in the past three years, the division has been performing better recently which has prompted ICI India to invest more in the area.

Induction of Bhargava and Jain will enable them, already in charge of day-to-day running of their respective divisions, to take active participation in the company's growth strategies rather than just informing the board of the developments in the divisions. The explosives division, buoyed by a 30 per cent growth in bulk explosives, has registered total volume sales increase of 11 per cent. A new bulk emulsion plant has also been commissioned at Rourkela in Orissa.

The paints division also recorded an increase higher than that of the industry at 14 per cent in volume terms. While new products like Supercote and Farco were introduced during the last one year, a new 20 million litre plant was also commissioned. In most other businesses like rubber chemicals, surfactants and catalysts, ICI posted lower sales. Emphasis on paints and explosives is thus only natural, felt ICI watchers.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.