With its eyes on high growth segments of building & construction and telecommunications, Arvind Ltd on Friday announced collaboration with Italian pultrusion composite profiles maker, Top Glass Industries SpA.
The partnership will bring together Top Glass’ superior technology and the manufacturing capabilities of Arvind’s Advanced Materials Division (AMD) to India.
The company, which has a manufacturing facility near Ahmedabad in Santej, also looks to export its speciality composite products to European markets through Top Glass.
Speaking to BusinessLine, Ashish Kumar, CEO, Advanced Materials Division & Arvind Envisol, said, “This partnership with Top Glass will equip Arvind to offer new solutions to the Indian market in the advanced composite segment. Crucial is the property of the material.
“It is a light weight inert material, allowing radiations to pass through. So for the telecommunication sector, it is going to be a promising material. Pharmaceutical infrastructure as well as building and construction are the other key promising sectors.”
Kumar further stated that currently the AMD is a ₹600-crore business portfolio, contributing about 10 per cent to the demerged Arvind Ltd.
“We expect to have consistent growth of 20-25 per cent of CAGR over the next 3-4 years,” he added.
In addition to bringing newer capabilities and technologies, the collaboration will also provide significant import substitution. Top Glass will now be a long-term knowledge partner for Arvind. Arvind will also be the licensee of “I Love Composites” trademark of Top Glass.
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Published on
December 14, 2018
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