Reliance Industries (RIL, Mumbai / India; www.ril.com) has entered into a license agreement with wood substitute specialist Resysta International (Taufkirchen / Germany; www.resysta.de), in which RIL acquires the exclusive rights to the production and marketing of "RelWood" in India. RelWood is a natural fibre polymer composite that is the raw material for the production of sheets and profiles used as wood and plywood replacements in a range of applications.

Vipul Shah, COO Petrochemicals at RIL, said the partnership will meet the demand for alternatives to tropical wood and it also shows the company's commitment to sustainable initiatives. According to Resysta, RelWood addresses the crisis of shrinking rainforests and is a water- and weather-resistant material that is fully recyclable.

"We are currently licensing our technology across the world, and have found in Reliance Industries our perfect partner for India. By manufacturing the Resysta Compound locally, the products become even more environment friendly and easily available," says Bernd Duna, CEO of Resysta International. Last year, the company entered into a license agreement with Ineos (Rolle / Switzerland; www.ineos.com), to produce and market its active "Resysta" filler (ARF), used in the production of PVC compounds, in Europe – see Plasteurope.com of 06.12.2016.

RIL is a private sector company with a consolidated turnover of USD 44.7 bn (EUR 41 bn) for the fiscal year ended 31 March 2016.