Borosil finalizes the acquisition of 86% of the capital of the glass manufacturer Interfloat

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Interfloat Group has a solar glass production capacity of 300 tons per day and will increase Borosil capacity by 66%. Image: Interfloat Group.

Indian solar glass maker Borosil Renewables has acquired an 86% stake in Interfloat Group, expanding its customer base in Europe.

With the acquisition of its European counterpartthe Indian manufacturer increases its solar glass production by 66% to 750 tonnes per day (TPD), which will increase to 1,300 TPD in Q4 2022 with the commissioning of a new 550 TPD furnace in India.

Comprised of two companies – Germany-based GMB Glasmanufaktur Brandenburg and Liechtenstein-based Interfloat Corporation – Interfloat Group is the largest producer of textured toughened solar glass in Europe, with a current capacity of 300 TPD, according to Borosil.

Despite high energy prices in Europe and geopolitical uncertainty affecting the European manufacturing industryThe acquisition of Interfloat will strengthen Borosil’s position in the global market “in the long term”, according to Borosil.

Pradeep Kheruka, Executive Chairman of Borosil Renewables, said, “The demand for domestically produced solar PV modules has increased significantly, which has led to increased demand for solar glass from our European customers. In light of the substantial expansion of our capacity in India, we plan to improve the reliability of our supply chains for our customers.

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