A joint venture has been set up for the manufacture of woven and multi-axial glass fabrics in India. The two companies involved: Arvind Ltd. and PD FibreGlass Group, will have, respectively, a 51% and 49% share.
Indian textile manufacturer Arvind Ltd. and PD FibreGlass Group, Germany, have formed a joint venture for the manufacture of woven and multi-axial glass fabrics in India.
The joint venture, named Arvind PD Glass Fibre Composites Pvt Ltd., will serve industries such as wind energy, transportation, shipbuilding, aerospace and infrastructure.
Arvind will have a 51% equity share in the joint venture, and PD 49%.
The new company, which will be built close to Arvind’s mill at Santej near Ahmedabad, will have an annual capacity of around 30,000 tonnes/year of glass fabrics, using machinery from Germany.
About 30% of the production is to be used mainly in the wind energy market in India, with the remainder exported to countries in Europe, North and South America, South East Asia and the Middle East.
Production is scheduled to start up by March 2012.