Mumbai – December 14, 2011 : Indian Textile company Arvind Limited announced its joint venture with Germany based PD Fiber Glass Group for manufacturing of glass fabrics in India. JV named ‘Arvind PD Glass Composites Pvt Ltd’, will have 51:49 equity participation from Arvind and PD Group respectively. A total investment of Rs. 80 crores in a span of five years is planned for this initiative.
According to chairman and managing director, Sanjay Lalbhai, This JV is projected to achieve a revenue of Rs. 250 crore after the first phase of investments. This will double to a revenue of Rs. 500 crore after the investments made in the second phase”.
The new facility will manufacture 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.
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