Arvind PD Glass Composites is a joint venture between Indian textile company Arvind and Germany’s PD Fibreglass Group. Last week the company commissioned the first phase of its production facility to produce glass fabrics at Santej, in Ahmedabad, Gujarat.
The new facility will produce woven uni-directional and multi-axial glass fabrics along with stitched and combination mats, with the global market size for glass fabrics estimated at over 3 billion USD with an expected increase of over 6% in the next five years a large proportion of product manufactured at the new site will be marketed overseas.
The current Indian market for glass fabrics is estimated at Rs. 800 – 1000 crore, however due to increasing demands in the aerospace and automotive sectors the requirement is expected to grow at around 17% per annum.
The Joint Venture will have equity participation with a total investment of rs. 80 crore over the next three years. 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 200 crore with a significant share coming from exports.