 "Vedanta Ltd plans to invest around $550 million in AvanStrate Inc")
Metals major Vedanta Limited said it plans to invest around $500 million in its group company, AvanStrate Inc. (ASI), a global display glass manufacturer. Vedanta secured a 98 per cent stake in ASI earlier this year.
The company stated that this strategic investment aims to drive innovation and expansion within ASI, strengthening its focus on research and development (R&D), as well as manufacturing capabilities and product offerings to meet the growing global demand for advanced display glass solutions.
AvanStrate has operations and R&D capabilities across Taiwan, South Korea, and Japan, and aims to accelerate the development of next-generation glass products designed for advanced packaging and potential applications in the semiconductor, biotechnology, automotive displays, and other high-growth sectors.
Vedanta added that AvanStrate is also exploring collaborative partnerships to support its development of technological advancements and enhanced market offerings.
Akarsh Hebbar, global managing director of AvanStrate Inc., said, “ASI will soon take its place as one of the leading players in the advanced glass technology and product innovation space globally.”
Vedanta said this move aligns with its commitment to expanding its high-tech offerings, incorporating AvanStrate Inc. into Vedanta’s portfolio of businesses across the critical and future minerals, energy, and technology sectors.
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Vedanta Group added that it will continue to explore innovation opportunities across automation, environmental, social, and governance (ESG) initiatives, and sustainable energy to enhance the group’s technological capabilities and support the demands of a dynamic global market.
The company noted that the global market for specialty glass applications is estimated to be $42 billion and is projected to reach approximately $60 billion by 2030. “AvanStrate, with its advanced manufacturing capabilities and strategic partnerships, is well-positioned to meet these demands and contribute significantly to the global supply chain,” the company said.