Westlake company works on business plans
The Government has given approval to Westlake Village-based Alltemp, Inc. to establish India entity to deliver its energy saving proprietary alltemp® refrigerants for the massive India market and surrounding region.
Alltemp Sustainable Refrigerants India Private Limited received its Certificate of Incorporation, dated 10 June 2019, from Ministry of Corporate Affairs, said the American company on 17 July 2019.
“India is one of the largest markets in the world for our refrigerants. Based on our relationships and sales projections with existing interested parties, this opportunity alone has the capability to deliver positive net income to Alltemp over the next six to nine months,” said Alltemp CEO Bill Lopshire.
Alltemp (OTCPK: LTMP) is a manufacturer of proprietary, environment-friendly refrigerants designed to deliver significant energy and financial savings.
Alltemp said it has worked over the past 18 months to establish relationships and prove the value of its products in this region of the world while deepening its understanding of the significant need and market.
With this entity formally established, Alltemp plans to substantially accelerate its business plans for sales in this region.
Additional developments related to India are expected to be communicated soon.
Alltemp cited a 15 May 2019 report of ResearchandMarkets: “The India HVAC market is expected to attain a size of US$5.9 billion by 2024, progressing at a CAGR of 7% during the forecast period (2019-2024).”
The major factors driving the growth of the market are increasing number of high-rise buildings, hypermarkets in Tier-II cities, and shopping complexes and malls, where HVAC systems are an essential requirement. Furthermore, the market is predicted to progress due to the on-going smart city projects in the nation, said the report.
Alltemp has developed a proprietary refrigerant technology, after years of research and development, called alltemp®, a proven replacement for many worldwide refrigerants that have detrimentally affected the global environment.
Alltemp® refrigerants are environmentally friendly, sustainable, and cost-efficient energy solutions for the residential and commercial marketplace. Alltemp refrigerants have broad applications, ranging from Heating Ventilation and Air Conditioning (HVAC), to refrigeration and foam insulation, to industrial solvents. fiinews.com
