5 November 1998: According to a recent press report, a joint venture between US-based Owens-Corning and India“s Mahindra Group has brought on line a 300,000 tonnes per year Advantex glass fibre reinf…
5 November 1998: According to a recent press report, a joint venture between US-based Owens-Corning and India“s Mahindra Group has brought on line a 300,000 tonnes per year Advantex glass fibre reinforcement plant in Taloja, India at a cost of US$ 100 million. Owens-Corning already operates a 60,000 tonnes per year joint venture plant with LG in Kimchon, Korea. 10% growth is expected by Owens-Corning“s composites business in Asia during 1998. Overall demand for glass fibre is expected to fall by 15% in Asia during the year, from 550,000 tonnes in 1997, with a 10% fall in Japan. For the year to date a fall of 40% has been recorded in Asean countries mainly in the construction sector. Owens-Corning aims to increase sales via its application development centres in Shanghai, China and Bangalore, India, the report said.