Braj Binani Group Acquires Europe's 3B - The Fibreglass Company for a Total Outlay of EUR 275 Million

february 7 2012

Binani Industries Limited, the holding company of USD 1.6 billion Braj Binani Group, apprised about 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. 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. 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.”

This acquisition gives Binani Industries full ownership of 3B’s global operating capacity of 1, 50,000 tonnes per annum (tpa). It also provides access to its established customers, world-class technologies, marketing network, vast marketing geographies and skilled manpower. 3B has an extensive portfolio of products including chopped strands, direct rovings and continuous filament mats. Goa Glass Fibre Limited, a subsidiary of Binani Industries based in Goa, India with a manufacturing capacity of 20,000 tpa, has state-of-the-art operations in similar product categories and exports its products to over 15 countries across five continents.

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