Borosil Renewables (BRL) and the Interfloat group of companies (Interfloat, based in the European Union) have signed a binding cash and stock deal enabling BRL to acquire a 100% stake in the Interfloat Group. The Interfloat Group consists of GMB Glasmanufaktur Brandenburg GmbH (GMB), located in Tschernitz, Germany, and Interfloat Corporation, based in Ruggell, Liechtenstein.
With this acquisition, BRL’s total installed solar glass manufacturing capacity in India and Europe will reach 750 TPD immediately, thereby allowing more efficient supply to customers in Europe. This acquisition will also accelerate investments in new product and technology development benefiting customers. Borosil’s expertise in achieving high efficiency in the manufacturing process to enhance throughput and lower costs will bring economies of scale to Interfloat’s expansion and manufacturing plans, while reducing the carbon footprint of its European operations.
Borosil Renewables is engaged in the manufacturing of low-iron-textured solar glass for applications in photovoltaic panels, flat-plate collectors, and greenhouses and is the first and only solar glass manufacturer in India.
