India's Binani Industries acquires Europe's fibreglass company |
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(binaniindustries) -- Binani Industries Limited, the
holding company of USD 1.6 billion Braj Binani Group, today announced the
acquisition of 3B – The Fibreglass Company (‘3B’), a Europe-based major in
fibreglass products and technologies. Binani Industries Limited is one of
India’s leading global diversified business houses, with interests in cement,
zinc, glass fibre, composites and ready-mix concrete.
The Braj Binani Group has acquired a 100 per cent equity interest in 3B from
Platinum Equity.
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Headquartered in Battice, Belgium, 3B is Europe’s leading manufacturer of
fibreglass for reinforcement of thermoplastics and thermoset polymer
applications, and is a preferred supplier to global leaders in industries
including automotive and wind energy.This acquisition is part of Braj Binani
Group’s strategy to expand its footprint in the global fibreglass market. It
further augments the Group’s technological and marketing capabilities in the
fibreglass business.
Mr Braj Binani, Chairman, Binani Industries Limited,
said, “The acquisition, costing us EUR 275 million, will strengthen our
group’s core operations at a global level.
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The group is present in fast-growth business segments, of which
fibreglass is one. We are among one of the few groups globally that has a robust
presence in this niche segment and we are working to accelerate our fibreglass
operations further over the coming years. 3B is therefore a perfect match. We
look forward to leveraging its expertise, strong R&D and excellent customer
network.”
mrcplast.com | |
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