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 fiberglass market. 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 th