India’s second largest fiber glass composite products maker EPP Composites Pvt Ltd has joined hands with Netherland-based Rotec Composite Group (Rotec) to manufacture high end machine made GRP fittings.
“It is 50-50 joint venture between EPP and Rotec. With this JV, a new legal entity will be created known as ‘RotecEPP’. This joint venture company will be the fourth company in India that will manufacture high end machine-made GRP fittings,” informed Jayraj Shah, managing director, EPP talking about the new development.
The company will start a new unit at Rajkot to manufacture GRP fittings.
Shah added that the total investment needed by the company to start a new unit is Rs 6 crore, of which EPP will contribute Rs 3 crore while the rest will be invested by Rotec.
With this joint venture EPP is expecting to grow by 25 per cent every year. EPP is also planning to enter in equity markets in two to three year's time.
“We are aiming to become Rs 500 crore company by the end of 2015. The company’s present turnover is about Rs 100 crore per year and our vision is to become the world’s leading company for fiber glass composites products by 2020 and the integrated complex is one big step towards this. We also have plans of setting up an integrated composite complex on 100 acres of land with an overall investment of Rs 250-300 crore. The work on this complex will commence by end of 2012,” Shah added.
EPP Composites is a leading manufacturer of composite, thermoplastic and dual laminated products, catering to the various industries. Their product range includes grp pipes, cooling towers, frp roofing sheet, frp doors, frp cables trays, ppg lining.
EPP has manpower of 750 people and with the commencement of the new company, it will increase its manpower to 800 people respectively.
