Braj Binani Group has secured a 100 per cent equity interest in 3B Fibreglass from Platinum Equity.
Located in Battice, Belgium, 3B is a manufacturer of fibreglass for reinforcement of thermoplastics and thermoset polymer applications, and is a supplier to key industries including automotive and wind energy.
The acquisition of 3B is part of the groups strategy to expand into the global fibreglass market which also further augments the Group’s technological and marketing capabilities in the fibreglass business.
Mr Braj Binani, Chairman, Binani Industries Limited said:
The acquisition, costing us € 275 million, will strengthen our group’s core operations at a global level. The group is present in fast-growth business segments, of which fibreglass is one. We are among one of the few groups globally that has a robust presence in this niche segment and we are working to accelerate our fibreglass operations further over the coming years. 3B is therefore a perfect match. We look forward to leveraging its expertise, strong R&D and excellent customer network.
This acquisition gives Binani Industries full ownership of 3B’s global operating capacity of 1,50,000 tonnes per annum (tpa). It also provides access to its established customers, technologies, marketing network and manpower.
3B has an extensive portfolio of products including chopped strands, direct rovings and continuous filament mats. Binani will benefit from 3B’s product innovation and development undertaken at its in-house R&D unit at Battice.