Geosphere Glassworks GmbH and Laxman AG, two overseas wholly-owned subsidiaries of Borosil Renewables, have successfully acquired an 86% share in GMB Glasmanufaktur Brandenburg GmbH (GMB) and Interfloat Corporation (Interfloat), respectively. With effect from October 21, 2022, GMB and Interfloat are now both step-down subsidiaries of the Company.
The company said in a statement, “With its acquisition of the Interfloat Group, BRL’s solar glass manufacturing capacity will grow to 750 tonnes per day from the current 450 TPD, an increase of 66%”. The combined entity capacity will further increase to 1,300 TPD by year end with the commissioning of a new furnace with a capacity of 550 TDP in India.
“This acquisition will make a wider range of solar glass available to BRL’s expanded customer base in Europe. Borosil leverages its highly efficient production technology to bring greater productivity and a lower carbon footprint to the European entity,” it said.