Grasim Industries Limited Signs Definitive Agreement to Form Joint Venture in India with Maschinenfabrik Reinhausen GmbH
October 22, 2019 at 05:47 am EDT
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Grasim Industries Limited on 22 October 2019 signed a definitive agreement to form a Joint Venture Company in India with Maschinenfabrik Reinhausen GmbH for the manufacturing and sale of Composite Hollow Core Insulators to serve the Power Transmission & Distribution industry globally. The JVC, Aditya Birla Power Composites Limited, will set up a CHCI manufacturing plant at Halol, Gujarat, India. This joint venture brings together Aditya Birla Insulators (a unit of Grasim), the 3rd largest global Porcelain Insulator player and Reinhausen Power Composites (a Unit of MR), with over five decades of combined experience in the insulator industry. ABPCL will build a fully integrated CHCI plant at Halol, bringing the latest technology for Composite Hollow Insulators from Europe. It will serve the insulator requirements of Indian and global OEMs in the Power Equipment industry, helping them to enhance their product proposition for the T&D Utilities worldwide.
Grasim Industries Limited is an India-based global producer of viscose, diversified chemicals, linen yarn, and fabrics producer in India. The Companyâs segments include Viscose, Chemicals, Cement, Financial Services, and Others. The Viscose segment includes viscose staple fiber, wood pulp and viscose filament yarn. The Chemicals segment includes caustic soda, allied chemicals, and epoxy. The Cement segment includes grey cement, white cement, and allied products. The Financial Services segment includes non-bank financial services, life insurance services, asset management (AMC), housing finance, equity broking, wealth management, general insurance advisory and health insurance. The Others segment includes textiles, insulators, paints, solar power, and business-to-business e-commerce. Through its subsidiaries, UltraTech Cement Limited and Aditya Birla Capital Limited, the Company is also a cement producer and a diversified financial services company. Navyasa is its saree brand.
GRASIM INDUSTRIES LIMITED 
