Binani Industries (BIL) has acquired 3B, a Belgian fibreglass company.
BIL has acquired the company for Euro 275 million (approx Rs 1,773.75 crore). BIL has acquired the entire equity interest in 3B from private equity investor Platinum Equity. BIL will own 3B’s plants in Battice (Belgium) and Birkeland (Norway). 3B is a manufacturer of fibreglass for reinforcement of thermoplastics and thermoset polymer applications, and is a preferred supplier to global companies in industries, including automotive and wind energy. Binani will now become a prominent supplier to industries such as automotive, wind energy, electrical, electronics, marine, infrastructure and transportation, primarily in Europe.