PPG to Form Fiber Glass JV in India

Kerr: India's economic growth boosts demand. PPG Industries says it has signed a letter of intent with Harsha Exito Engineering (Chennai, India) to establish a 50-50 joint venture for the manufacture and sale of fiber glass reinforcement products. The jv aims to build a manufacturing site in the state of Tamil Nadu, India. Financial details of the deal were not disclosed. The transaction is subject to completion of due diligence and the negotiation of definitive documentation, PPG says. “The projected expansion of the Indian economy will help drive demand...

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