Pilkington To Enter Indian Market

Date: 2 January 2008
Source: Yahoo
The British glassmaker Pilkington, with annual sales of over 4 billion pounds globally (about Rs 32,000 crore) is planning an entry into India.

Rise in infrastructure activities coupled with diversified glass usage in India is attracting global giants such as Saint Gobain (French), Guardian (USA) and Asahi Glass (Japan). The Rs 5,000 crore treated glass industry is witnessing a growth of over 10% annually.

The company is scouting for a partner in India and may sign a deal shortly, sources close to the development told FE. An e-mailed query to the company about its India plans and investment, however, remains unanswered.

Four top flat glass manufacturers including Pilkington, Saint-Gobain, Asahi and Guardian, produce about 67% of the world's high quality float glass at about 50 million metric tonne. Production of flat glass is projected to increase over 5% per year to reach about 57 million metric tonne by 2010.

"Three of the top four glassmakers like Guardian Industries Corp, Saint Gobain and Asahi Glass have already entered into Indian flat glass market worth Rs 5,000 crore. With already announced investment of Rs 2,150 crore by various players the industry within the country is likely to grow over 10% annually," chairman All India Glass Manufacturers' Association 'iGlass' Sanjay Labroo said.

Treated glass is increasingly becoming the preferred choice of real estate developers, as it is easy to install and maintain. It also provides protection from excess heat and light and provides comfort in terms of transparency, creating a sense of space, and even serves as a safeguard against burglars, fire and earthquakes, Labroo said. The industry is bullish due to the spurt in infrastructure activities coupled with diversified glass usage. The players offer a wide range of products from toughened, unbreakable, laminated safety glass, solar control glass to insulating glass.

600450 Pilkington To Enter Indian Market glassonweb.com
Date: 2 January 2008
Source: Yahoo

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