Inline Enters Joint Venture in India
Fiberglass window manufacturer Inline Fiberglass Ltd., has signed an agreement with Zoom Developers of India to create a joint venture to manufacture and distribute fiberglass windows and doors in India. The venture will be based in Mumbai.
Mike Levine, Inline's international sales manager says the deal "underlines our commitment to become a major international player in the fenestration market." The market in India has excellent growth potential with its rapidly growing upper and middle class as well as shifting focus from low cost to quality products, he notes, adding, "This also demonstrates our belief in this new venture to drive growth in new markets. As other companies are closing down factories, Inline with its diversification is experiencing double digit growth this year."
Based in Toronto, Inline not only manufactures fiberglass windows but uses its own pultrusion technology. It has previously set up joint ventures in China.
Zoom, its partner in India is a Mumbai-based private group with interests in energy, engineering and real estate. "As a multi national industrial and manufacturing conglomerate, Zoom Developers dedicates a significant amount of its capital and human resources to ensuring that we are constantly at the forefront of being 'best in class' and differentiated within our selected industries," says Rino Sabatino, president. "And it is to this target that after much technical and quantitative analysis of international fiberglass companies, Zoom decided to partner with Inline Fiberglass Ltd. and to establish a joint venture in both India and in the UAE and Middle East. I was ultimately swayed by the fact that over the last 20 years Inline, has successfully demonstrated its expertise to introduce its technology worldwide as a fully integrated engineering, scientific and manufacturing company."
The joint venture is expected to be up and running by spring of 2009.