Arvind PD Glass Composites Pvt. Ltd, a joint venture company set up by leading textiles company Arvind Limited and Germany’s PD FibreGlass Group, commissioned the first phase of its production facility to manufacture glass fabrics at Santej in the outskirts of Ahmedabad on Thursday.
The JV facility will cater to the requirements of a cross section of industries like automobile & transportation, wind energy, aerospace and infrastructure amongst others. The 51:49 joint venture Arvind PD Glass Composites ( with 51 per cent equity participation from Arvind Ltd) plans to invest Rs 80 crore over the next three years to expand the facility to 30,000 tonnes per year of glass in the medium term.
Sanjay Lalbhai, chairman and managing director, Arvind Limited said, “With the commissioning of this new facility, we have taken a major step forward in our long term strategy to develop the technical textiles business as a major growth engine for Arvind Ltd in the coming decade. Over the next two to three years we expect this JV to post revenues in the range of Rs 150-200 crore with a significant share coming from exports."
The new facility will manufacture woven uni-directional and multi-axial glass fabrics along with stitched and combo-mat glass fabrics. A large part of the new company's output will be marketed overseas. Stefan Preiss-Daimler, managing director, PD FibreGlass Group said, “This new facility in India will become an important hub for supplying glass fabrics globally, especially in Asia. India is one of the fastest growing economies in the world and we expect a big spurt in demand for glass fabrics.”
