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US-based fibreglass maker Owens Corning is upbeat on its business prospects in India and has expressed interest in acquiring companies and forming joint ventures to manufacture more products in the country.
The company is also gearing up to play a much bigger role by offering expanded range of general building materials from its stable.
It is looking at emerging business opportunities in the country’s infrastructure, construction and renewable energy sectors, said a top official. .
“The company is both looking to strengthen its existing streams such as fibreglass insulation and aesthetic roofing solutions, and entering new areas,” said Marcio A Sandri, Vice-President and Managing Director, Glass Reinforcements Solutions, Owens Corning.
The company started India operations in 1998 with a plant in Taloja near Mumbai. In 2007, it acquired a facility located at Thimmapur near Hyderabad.
Now, Owens Corning has three units in India, employing more than 750 people.
“We are open to acquisitions and forming joint ventures to tap new businesses, while expanding organically with products we make here,” he told BusinessLine .
Sandri, who was in Hyderabad to take part in the International Conference and Exhibition on Reinforced Plastics, said the current focus is on assessing the market potential and increasing capacity utilisation.
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