Aditya Birla group owned Grasim is forming a joint venture in India with Germany-based Maschinenfabrik Reinhausen for manufacturing and selling composite hollow core insulators (CHCI) that caters to industries like the power transmission and distribution industry globally, Grasim announced on Tuesday.
The JV company will be called Aditya Birla Power Composites and will hold a 49% stake of MR and 51% stake of Grasim. It will be spending Rs 100 crore in setting up a facility in Halol in Gujarat over the next 3 to 5 years.
The group through its unit Aditya Birla Insulators is a major global player in the production of porcelain insulators and with this JV, its production of CHCI will find a larger scale.
“As an insulating solutions provider to power industry for over 50 years, this venture is a natural next step for Grasim to expand into the Composite Hollow Insulator segment and we are happy to partner with the global quality leader in this segment, MR. Through cutting-edge technology and world class manufacturing, this JV will offer high-end competitive, innovative and sustainable solutions to our customers globally, and reaffirms our commitment to Make-in-India to serve the world” said Kalyan Ram Madabhushi, CEO – Global Chemicals and Group Business Head– Fertilisers and Insulators at Aditya Birla Group.