Arvind and Polser announce joint venture to manufacture next generation materials for construction industry
Arvind Limited today announced a joint venture with Polser AS (Turkey) – a global leader in laminated composite panels – for manufacturing corrugated and plain fiberglass sheets to serve the construction industry in India and abroad. The joint venture combines Polser’s world-class technological prowess with the manufacturing capabilities of Arvind’s Advanced Materials Division (AMD). The new entity, ArvindPolser Reinforced Composite Panels Limited, will have a 60:40 equity participation from Arvind and Polser respectively. The manufacturing plant will be set up at Ahmedabad. AMD is a material science driven, solutions focused, division of Arvind, with a potential to reach a scale of Rs. 5,000 Cr in the next five to ten years. Through this exclusive partnership, Arvind and Polser will provide next generation materials to the construction industry by replacing traditional metals like Steel, Wood, and Asphalt shingles to name a few. ArvindPolser 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 & livestock, hygiene, hospitality, and automotive industry. Due to the nature of the composite material formed by glass fiber and plastic resin, its aesthetic formability and durable structure has been effective in being the most preferred interior design structure and coating material. Commenting on the joint venture, Mr. Ashish Kumar, CEO Arvind Advanced Materials Division and Envisol, Arvind Limited, said, “This is part of a long-term strategy for our advanced materials business, where we are continuously investing in new technologies for growth. We believe the coming years will see a disproportionate growth in composites for a variety of applications. Our joint venture with Polser is in line with our commitment to grow our expertise across different technologies in composites and provide our customers with world-class solutions.” Mr.AhmetCinar, Managing Director (Polser AS), said “The building and construction industry is always on the lookout for new materials. Composite sheets offer long life, high strength-to-weight ratio and formability, which make them ideal for use in many different applications. The partnership with Arvind will strengthen our global position and enable us to serve our customers better.” The next generation fibre sheets manufactured at ArvindPolser Reinforced Composite Panels Limited will provide effective protection for any structure against heat, corrosion, rust and other environmental impacts. The fire resistance and antibacterial functionality of the manufactured panels will prove highly effective in constructing buildings and other utility premises that are safer and more durable.
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