Fiberweb plc is pleased to announce it has acquired control of its existing geosynthetics joint venture in Gujarat, India, raising its stake from 26% to 65%.
Terram India is based in a coastal industrial park in a duty-free zone near Mundra. It was initially established as an initiative of private investors together with assets, technology transfer and investment from Fiberweb’s Terram geotextile business in 2009. Manufacturing operations were fully commissioned during 2012 utilising a Terram geotextile spunbond line.
Terram India is currently supplying Fiberweb in the UK and several Fiberweb customers in the Middle East, South America, Africa, Asia and Australasia.
Fiberweb will immediately invest £2 million to enable expansion at Terram India, including the addition of value-added geocomposite manufacturing. It intends to expand the facility further by adding extra production process and lamination capabilities to take advantage of Terram India’s favourable location for growth markets and its low cost base. A sales office in Ahmedabad, also in Gujarat, will also be expanded due to expected increased product demand.
Fiberweb CEO Daniel Dayan said: “The purchase of these additional shares will increase Fiberweb’s ability to supply a wide range of Terram products to existing and new customers worldwide. This acquisition follows significant investment in innovation centres and logistics in Europe and Northern America, and will further enhance our well-deserved reputation as a complete and cost effective solutions provider for geosynthetics customers.”
About Terram
Fiberweb’s unique Terram spunbond process produces strong, lightweight geotextiles and has long been a key component in many leading geocomposites. It is utilised as a trusted element in road, rail and building foundations, as well as in many other construction projects. Terram has been a world renowned and trusted brand for more than four decades.
About Fiberweb
Fiberweb is a leader in the development and manufacture of materials to create versatile, cost efficient and high-performance products, designed to meet the needs of specific applications.
Fiberweb materials can be found in many applications including filtration, civil engineering, medical products, railways, aerospace, buildings and agriculture. Headquartered in London, UK, Fiberweb operates eight manufacturing sites worldwide. The Fiberweb Geosynthetics range includes Terram, Typar, Defencell and Tubex. Fiberweb has a history of continuous investment in new production capabilities, ensuring that its processes can support new products.
For more information visit www.fiberweb.com
Contacts for press
George Hamilton, Marketing Communications Specialist, george.hamilton@fiberweb.com
Kate Miles, Chief Finance Officer, kate.miles@fiberweb.com
