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Home arrow News arrow Alliances and Joint Ventures arrow Arvind Ltd and PD Fiber Glass Group form JV to produce Glass fabrics in India
Arvind Ltd and PD Fiber Glass Group form JV to produce Glass fabrics in India Print E-mail
Written by Vivek   
Wednesday, 14 December 2011
Ahmedabad: Arvind Limited has formed a Joint Venture with the Germany based PD Fiber Glass Group for the manufacture of Glass fabrics in India. The joint venture, Arvind PD Glass Composites Pvt. Ltd., will invest Rs. 80 crores over a span of 5 years to set up a new facility with a capacity of 30,000 MT/year, to manufacture woven, bi-axial and multi-axial glass fabrics along with stitched and chopped mat-glass fabrics.

"This move is part of a long term strategy for our technical textiles business – a division we have established to explore new technologies and innovative ideas in the field of advanced textiles," said Sanjay Lalbhai, Chairman and Managing Director, Arvind Limited.

"We believe the coming years will see the global glass composite industry grow at a staggering 25% every year. This JV is projected to achieve a revenue of Rs. 250 crores after the first phase of investments. This will double to a revenue of Rs. 500 crores after the investments made in the second phase," he said.

The JV will cater to sectors like Automobiles & Transportation, Wind Energy, Aerospace, Ship Building & Infrastructure etc. A significant portion of the production will be for export markets.

"In line with our growth aspirations and conviction in the global growth story of Fiber Glass Reinforcements, this is an important step for covering a larger global market and providing cost efficient solutions. Arvind, with an experience in weaving technology and PD Group being the pioneers of the glass fiber to fabric industry, complement each other well in this partnership," said Preiss Daimler, Managing Director, PD Management Group.

The joint venture will have a 51:49 equity participation from Arvind and PD Fiber Glass Group.

Wind Energy, Automotive, Aerospace & Infrastructure – are likely to lead the growth of the glass fabric market in India.

 
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