Arvind Ltd, a textile manufacturer, has entered into a 60:40 joint venture with Turkey’s Polser AS to manufacture next-generation construction materials which will replace traditional metals, wood and asphalt shingles. Polser a leading provider of laminated composite panels.
The newly formed JV, Arvind Polser Reinforced Composite Panels Limited, will manufacture corrugated and plain fiberglass sheet panels to cater to the construction industry in India as well as overseas. These composite materials are most suitable for pharmaceutical, medical and food preparation industries as they require highly cleanable and sanitary walls to maintain hygienic environment within factories. Another advantage of these materials over the conventional materials is that they are economical. These panels will cost around half of ceramic tiles. These could also be deployed as construction material in cooling towers, hygiene, hospitality, agriculture and livestock and automotive industry. These composite sheets offer long life, high strength-to-weight ratio and formability, which make them ideal for use in many different applications.
Presently, Arvind AMD has a revenue of Rs 700 crore which it wants to scale upto Rs 5,000 crore in next five years.