Arvind has signed a JV agreement with a German firm, PD Fibre Glass Group.
As per the agreement, the JV - Arvind PD Glass Composites - will manufacture glass fabrics for the industries in wind power, shipbuilding and automobile sector. In the JV, Arvind will hold 51 per cent equity while the remaining 49 per cent will be with the PD Group. The project will be implemented in two phases.
Meanwhile, Arvind will manufacture woven, bi-axial and multi-axial glass fabrics along with stitched and chopped mat-glass fabrics at its existing unit at Santej near Ahmedabad in Gujarat. It will use imported machinery from Germany, which will cost around Rs 10 crore. The machinery is likely to be installed by February 2012. The facility will commence production by April 2012.