Arvind announces JV with Turkish Polser AS
Courtesy: Polser AS
India’s Arvind Ltd recently formed a joint venture (JV) with Turkey’s Polser AS, a global leader in laminated composite panels, for manufacturing corrugated and plain fibre glass sheets to cater to the construction sector in India and abroad. Arvind Polser Reinforced Composite Panels Limited will have a 60:40 equity participation from Arvind and Polser respectively.
The manufacturing unit will be set up in Ahmedabad, according to Indian media reports.
Arvind’s Advanced Materials Division (AMD) will take the lead in the initiative. AMD is a material science-driven, solutions-focused division, with a potential to reach a scale of ₹5,000 crore revenue in the next five to ten years, the company said in a statement. AMD now generates a revenue of about ₹700 crore for Arvind.
The next generation materials manufactured through this joint venture will replace traditional metals like steel, wood and asphalt shingles. Arvind Polser Reinforced Composite Panels will also be highly beneficial for food preparation, pharmaceutical, and medical settings where sanitary and highly cleanable walls are required. The panels will be typically one-half the cost of ceramic tiles and would be easier to keep clean.
The panels will also serve as construction material for cooling towers, agriculture and livestock, hygiene, hospitality, and automotive industry, the company added. (DS)
Fibre2Fashion News Desk – India