PPG
Glass fibre joint venture in India / US company's first manufacturing venture on the sub-continent
US coatings and specialty chemicals manufacturer PPG (Pittsburgh, Pennsylvania; www.ppg.com) has tentatively agreed to form a joint venture with Indian company Harsha Exito Engineering (Chennai; www.harshaexito.com) to produce and sell glass-fibre reinforced products in the state of Tamil Nadu. Product is to be sold within India. A final transaction is subject to due diligence and further negotiations, the US company said.
According to Thomas Kerr, PPG vice president, fiber glass, the projected expansion of the Indian economy will help drive demand for glass fibre in such end-use applications as infrastructure, transportation and wind energy. PPG does not currently produce glass fibre in India; however, it does export to the region.
According to Thomas Kerr, PPG vice president, fiber glass, the projected expansion of the Indian economy will help drive demand for glass fibre in such end-use applications as infrastructure, transportation and wind energy. PPG does not currently produce glass fibre in India; however, it does export to the region.
01.09.2011 Plasteurope.com [220238-0]
Published on 01.09.2011