Basic HTML Version
20
|
The Textile Magazine
jANUARY 2012
Arvind-PD
joint venture for
glass fabrics
corporate news
These three sectors – wind energy,
automotive and infrastructure – are
likely to lead the growth of the glass
fabric market in India.
The joint venture, Arvind PD
Glass Composites Pvt. Ltd., will
have a 51:49 equity participation
from Arvind and PD Group respec-
tively. A total investment of Rs. 80
crores in five years is planned for
the project which will manufacture
30,000 MT/year of glass fabrics.
Mr. Sanjay Lalbhai, Chairman and
Managing Director, Arvind Ltd.,
said: “This move is part of a long-
term strategy for our technical tex-
tiles business – a division we have
established to explore new technolo-
gies in advanced textiles. 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”.
Mr. Preiss – Daimler, Managing
Director, PD Management Group,
observed: “In line with our growth
aspirations and conviction in the
global growth story of Fiber Glass
Reinforcements, this is an impor-
tant step for covering a larger global
market and providing cost efficient
solutions. Arvind, with its experi-
ence in weaving technology, and PD
Group being the pioneer of the glass
fiber to fabric industry, complement
each other well in this partnership.”
The new facility will manufac-
ture woven, bi-axial and multi-axial
glass fabrics along with stitched and
chopped mat-glass fabrics. A large
part of the new company’s output
will be marketed overseas.
India currently is a small market
for glass fabrics, but as the country’s
aerospace, auto and wind energy
sectors grow demand is likely to ex-
pand considerably.
w
Arvind Ltd. has announced the
formation of a joint venture with the
PD Fiber Glass Group of Germany
for the manufacture of glass fabrics
in India. The venture will cater to the
requirements of a cross-section of
industries like automobiles & trans-
portation, wind energy, aerospace,
ship building & infrastructure, etc.
Besides infrastructure, India is
making rapid strides in wind en-
ergy by becoming the fourth largest
player in the world. It is also becom-
ing a hub for automobile production.
Mr. Sanjay Lalbhai,
Chairman and M.D., Arvind Ltd