Calcutta, July 30: Huntsman Advanced Materials (India) Pvt Ltd, part of the $13-billion Huntsman group, is targeting a Rs 1,000-crore turnover this fiscal.

In line with its global policy, the Indian subsidiary of the global chemical industry major, is planning to acquire companies that offer value-added products to construction firms, which is one of its focus areas.

It could also form an asset base, greenfield or otherwise, for its Rs 300-crore textile effects business in the country, which would require an investment of Rs 120 crore. Huntsman had globally acquired the performance polymers division (textile business) of Ciba Speciality.

“We are growing at a compounded annual rate of 25 per cent for the last five years and expect to maintain it. With sectors such as construction and infrastructure, coupled with the government’s thrust on power, the Indian operations have become Huntsman’s most exciting emerging market after China,” said Asit B. Adhikari, regional director, India and Middle Eastern (IME) region of Huntsman Advanced Materials.

The company expects around Rs 400 crore from the advanced materials business. Polyurethanes is set to contribute Rs 270 crore to the turnover and Rs 300 crore is expected from textile effects.

The company also gets business worth Rs 120 crore as systems supplier providing raisins and adhesives to wind energy generation companies.

Huntsman owns the 60-year old brand Araldite, which is its flagship product.