PPG Signs JV Agreement for Fiber Glass Reinforcement Products

Date: 1 September 2011
Source: PPG Industries
PPG Industries will own 50% of the JV and the remaining 50% will be owned by Harsha Exito Engineering.

The JV will control the production and marketing of fiber glass reinforcement solutions. The JV is dependent on a due-diligence and the details regarding the definitive document were not disclosed. Harsha Exito Engineering (India) is an enterprise specializing in engineering, manufacturing and project implementation solutions within the process, power and oil & gas industries.

This JV represents PPG’s continuing commitment towards global expansion, especially in the emerging market segments. PPG’s VP of fiber glass division, Thomas P. Kerr stated that for the next few months, both the companies will work to complete the fiber glass JV in Tamil Nadu, India. Kerr also added that the expected Indian economy expansion will help to increase the demand for fiber glass products in applications such as wind energy, transportation and infrastructure.

At present, PPG does not have a fiber glass manufacturing plant in India. However, the company exports fiber glass to the Indian customers.

PPG Industries, headquartered in Pittsburgh, is a company that brings innovation to the surface. It serves the clients in the construction, consumer products, transportation and industrial markets. The company has operations in over 60 countries across the globe.

600450 PPG Signs JV Agreement for Fiber Glass Reinforcement Products glassonweb.com
Date: 1 September 2011
Source: PPG Industries

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