PPG, Harsha to form India fiber glass joint venture

PPG Industries signed a letter of intent with India-based Harsha Exito Engineering to establish a 50-50 joint venture for the manufacture and sale of fiber glass reinforcement products.

The transaction is subject to the completion of due diligence and the negotiation of definitive documentation, the company said. Financial information was not disclosed.

“Over the next several months, PPG and Harsha will be working to finalize a fiber glass joint venture in the Indian state of Tamil Nadu to primarily serve the Indian market,” said Thomas P. Kerr, PPG vice president for fiber glass.

“We are encouraged by the prospect of continuing to expand PPG’s global reach, particularly in emerging markets,” Kerr added.

According to Kerr, the projected expansion of the Indian economy will help drive demand for fiber glass in such end-use applications as infrastructure, transportation and wind energy.

“PPG does not currently operate a fiber glass manufacturing facility in India, but we export fiber glass to the region to support our customers’ operations there,” Kerr said.