Military grade fibre products in 2020
A leading Indian plastics manufacturer, Lohia Group, is bringing high-end Israel technology in a manufacturing plant in the Uttar Pradesh Defence Corridor.
It has acquired Israel’s Light & Strong Limited, a manufacturer of military grade carbon fibre and glass fibre composite components.
Over US$10 million will be invested in the 10-acre facility production from which will start in 2020, catering to the defence industry including HAL and ISRO as well export to international manufacturers.
“We wanted to diversify and the defence and aerospace sector is still growing. We are doing something that requires a fairly high amount of technology and were waiting for the right company and product to come along,” Anurag Lohia, director, Lohia Group, told Economic Times.
“The idea was to bring high technology to India and the best way we found after exploring companies across the world was through the right acquisition,” Pavitra Goel, Lead – Aerospace & Defence at Lohia Group, was quoted as saying in a report on 11 Feb 2019. fiinews.com