Home Finance Borosil Renewables buys Interfloat Group

Borosil Renewables buys Interfloat Group

New Delhi: India’s first photo voltaic glass producer Borosil Renewables Ltd has acquired 86 per cent stake in Europe’s largest photo voltaic glass producer Interfloat Group for an undisclosed sum of cash.

“With its acquisition of the Interfloat Group, BRL’s photo voltaic glass manufacturing capability will develop to 750 tonnes per day from the present 450 TPD, a rise of 66 per cent,” the corporate stated in an announcement. This capability of the mixed entity will additional enhance to 1,300 TPD by 12 months finish with the commissioning of a brand new furnace with a capability of 550 TPD in India. “This acquisition will make a wider vary of photo voltaic glass obtainable to BRL’s expanded buyer base in Europe. Borosil leverages its extremely environment friendly manufacturing know-how to deliver higher productiveness and a decrease carbon footprint to the European entity,” it stated.

Interfloat Group consists of two firms — GMB Glasmanufaktur Brandenburg GmbH (GMB), based mostly in Tschernitz, Germany, and Interfloat Company, based mostly in Liechtenstein. GMB is the most important producer of textured tempered photo voltaic glass in Europe with a present manufacturing capability of 300 TPD. It has manufactured glass for Europe’s photo voltaic (photo voltaic PV in addition to photo voltaic thermal) and greenhouse glass markets since 2008.

“With this acquisition, BRL’s mixed manufacturing capability in India and Europe could be obtainable to fulfill a variety of necessities together with sizes various textures, coatings, dimensions, and thickness. This acquisition can even speed up investments in new merchandise and know-how improvement benefiting prospects,” the assertion stated. BRL plans so as to add additional capability with the subsequent growth rising to 2,100 TPD in 2024. “Borosil is dedicated to investing in manufacturing in Europe and will probably be growing capability at GMB’s Tschernitz plant at an applicable time within the close to future. Which means that BRL and Interfloat will have the ability to provide considerably increased volumes of photo voltaic glass to their current and new prospects by enhancing the serviceability on account of the manufacturing from two places now,” it stated.

Pradeep Kheruka, Govt Chairman of Borosil Renewables Ltd, stated, “The intense disaster now being confronted not solely in Europe however internationally from sudden disruption within the provide of pure fuel has given nice impetus to the pressing requirement for photo voltaic installations. The demand for domestically manufactured photo voltaic PV modules has elevated considerably resulting in a better demand for photo voltaic glass by our European prospects.”

“Within the gentle of considerable growth in our capability in India, we count on to boost the reliability of our provide chains for our prospects. We imagine that by leveraging the prevailing synergies and a number of other complementary ability units supplied by the 2 firms, we can serve our prospects higher. We proceed to strongly imagine that this acquisition strikes us nearer to our imaginative and prescient of being essentially the most customer-centric firm on this planet,” he stated.

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