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Inline Enters Joint Venture in India
October 22, 2008
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
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