Arvind PD Glass Composites Pvt. Ltd., a joint venture company setup of Arvind Limited and Germany’s PD FibreGlass Group, commissioned the first phase of its production facility to manufacture glass fabrics recently at Santej, in Ahmedabad, Gujarat. The JV facility will cater to the requirements of a cross section of industries like automobile and transportation, wind energy, aerospace and infrastructure amongst others.
The joint venture, Arvind PD Glass Composites Pvt. Ltd., will have a 51:49 equity participation from Arvind Ltd. and PD Group, respectively. A total investment of Rs. 80 crore over the next three years is planned for this initiative. The goal of the facility would be to reach 30,000 MT per year of glass fabrics 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 to Rs. 200 crore with a significant share coming from exports.”
