The Belgian group will own a majority share in the new company, which will be run by the Poddar family, the founders of Ashirvad Pipes. Products manufactured by the jv will be sold in India under the Ashirvad brand name.
Founded in 1998, Ashirvad Pipes is one of India’s leading plastic fluid handling systems players, focusing on the building, plumbing and agriculture markets. Part of Ashirvad Enterprises, the company focuses on turning out uPVC and cPVC pipes and fittings, and is expected to post sales of about EUR 140m for the financial year ending 31 March 2013.
Brussels-based Aliaxis is one of the world’s leading plastic pipe producers, with more than 100 manufacturing plants across more than 40 countries worldwide. Its 14,000 employees posted sales of EUR 2.24 bn in 2011. Building on its global network in Europe, North and Latin America, Australasia and Asia, Aliaxis last year acquired its Chilean competitor Vinilit (Santiago de Chile; www.vinilit.cl) – see Plasteurope.com of 21.12.2012.