Arvind announces JV with Turkish Polser AS

Arvind Limited announced its JV with Turkish laminated composite panel maker Polser AS for manufacturing corrugated and plain fibreglass sheets for the construction industry. The new entity, Arvind Polser Reinforced Composite Panels Limited, will have a 60:40 equity participation from Arvind and Polser respectively. The manufacturing plant will be set up at Ahmedabad, said Ashish Kumar, CEO Arvind Advanced Materials Division and Envisol, Arvind Limited. Kumar said, "The company is keen to scale up its advanced material division to $0.7 billion (Rs 5,000 crore) in 5-10 years." He added that the partnership would enable them to provide next generation materials to the construction industry by replacing traditional metals like steel, wood, asphalt shingles. The company expects takers from food, pharma and medical industries where sanitary and highly cleanable walls are required. Ahmet Cinar, MD, Polser AS, added: “The building and construction industry is always on the lookout for new materials. Composite sheets offer long life, high strength-to-weight ratio and formability, which make them ideal for use in many different applications.”