Astarc forms JV with Alucoil of Spain
Astarc Group has entered into a joint venture with the Spanish industrial and technological group, Aliberico. The joint venture is between Astarc’s Durabuild Technologies and Aliberico’s Alucoil S.A. – both manufacturers of Aluminium Composite Panels (ACP) and Colour Coated Coils.
Durabuild Technologies (Durabuild) is a leading Indian manufacturer of Aluminium Composite Panels (ACP) and Colour Coated Aluminium Coils. Durabuild has supplied over 3 million square meters of ACP to over 1,000 commercial building, airports projects etc. It has a manufacturing facility in Ranjangaon, near Pune, in the state of Maharashtra. The plan has an annual production capacity of 2 million square meters of panels with two ACP lines, one for polyethylene and another for FR core, and an in-house continuous process Colour Coating Line.
Durabuild, the second Indian ACP manufacturer with domestic FR product manufacturing capability, is further strengthening its manufacturing, R&D and product development capabilities with this joint venture.
Kishore Musale, chairman of ASTARC Group and managing director of Durabuild, said, “Tthis joint venture with Alucoil is part of our expansion strategy to bring world leading products to the Indian market. In addition to manufacturing Alucoil’s LARSON brand products in India, we will be bringing the entire suite of Alucoil’s global product base to the Indian market via imports”.
This joint venture is also part of Alucoil’s international expansion plan with a goal to become the world leader in the manufacture of composite panels by 2015. In addition, over the past two years, Alucoil has established an industrial presence in Morocco, the USA and Brazil as well. This joint venture will position Durabuild for profitable growth and further product expansion.
Alucoil will own 51 per cent controlling interest of the new operation and will integrate Durabuild into its global structure under the name Alucoil India. Astarc Group members will own 49 per cent of Alucoil India. Alucoil India will be led by Durabuild’s current President, Perumal Pillai, who was previously a CEO of Alcan Composite India.
Astarc Group was formed in 1987 and is headquartered in Mumbai, India.