Aug 26, 2011, 10.30 PM IST | Source: Reuters

PPG plans fiber glass JV with Indian co

PPG plans fiber glass JV with Indian co

REUTERS - Paint maker PPG Industries said it plans to manufacture and sell fiber glass products with India's Harsha Exito Engineering Pvt Ltd, to cater primarly to strong demand for fibre glass in India.

Fibre glass is a polymer used in boats, automobiles, water tanks, roofing, pipes, etc.

Pittsburgh-based PPG, which has manufacturing facilities and affiliates in more than 60 countries, did not disclose financial information about the joint venture.

Harsha Exito, which is part of Harsha Group of Cos, is an engineering and manufacturing firm.

PPG shares closed at $71.08 on Thursday on the New York Stock Exchange.

(Reporting by Vaishnavi Bala in Bangalore)

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