Braj Binani Group Acquires Europe's 3B - The Fiberglass Company for a Total Outlay of € 275 Mn

Binani Industries Limited, the holding company of USD 1.6 billion Braj Binani Group, recently announced the acquisition of 3B - The Fibreglass Company ('3B'), a Europe-based major in fiberglass products and technologies. Binani Industries Limited is one of India's leading global diversified business houses, with interests in cement, zinc, glass fiber, composites and ready-mix concrete.



The Braj Binani Group has acquired a 100% equity interest in 3B from Platinum Equity. This acquisition is part of Braj Binani Group's strategy to expand its footprint in the global fiberglassmarket. It further augments the Group's technological and marketing capabilities in the fiberglass business.
Mr. Braj Binani, Chairman, Binani Industries Limited, said, "The acquisition, costing us €275 million, will strengthen our group's core operations at a global level. The group is present in fast-growth business segments, of which fiberglass 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 fiberglass 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 tones 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 Fiber 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.
The acquisition allows Binani Industries to consolidate its position in the global fiberglass market by increasing its product and customer base. The company will become a prominent supplier to industries such as automotive, wind energy, electrical, electronics, marine, infrastructure and transportation, primarily in Europe, where approximately 90 per cent of 3B's customers are based. Furthermore, the manufacturing plants that Binani Industries will own in Battice (Belgium) and Birkeland (Norway) will help it serve blue-chip customers in northern and central Europe. 45 per cent of 3B's customers are in Germany followed by the Netherlands and Belgium (14% each).
With regards to technology, Binani Industries will benefit from 3B's continuous product innovation and product development undertaken at its in-house R&D unit at Battice. This technology expertise will place Binani Industries in a premium position in the global fiberglass market.

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