In a groundbreaking move, nonwovens producer TWE Group and Obeetee Textiles (OTL) have announced the establishment of a strategic joint venture in India. This momentous collaboration aims to reshape the nonwoven landscape in the region and meet the soaring demand for nonwoven products in the health and hygiene sector.
With nonwovens production in India witnessing an extraordinary growth of over 50% in the past five years, the new joint venture, named TWE OBT, is set to capitalize on this thriving market. The joint venture will invest in a state-of-the-art facility that will manufacture cutting-edge nonwoven products, specifically tailored to meet the needs of the health and hygiene sector.
TWE, headquartered in Emsdetten, Germany, has acquired a 50% shareholding in OTL, a dominant player in the Indian nonwoven segment, particularly in the automotive industry. OTL’s strong presence and strategic alliances with original equipment manufacturers (OEMs) in India have paved the way for this landmark partnership.
The collaboration between TWE and OTL will unlock unprecedented growth opportunities by leveraging their combined market reach and customer bases. The expanded footprint will enable the joint venture to tap into previously untapped markets, diversify revenue streams, and establish stronger relationships with customers not only in India but also in neighboring countries.
In a unique governance structure, both TWE and OTL will enjoy equal partnership, closely collaborating on strategic decision-making and operational matters. This shared approach ensures that both parties have an equal say in shaping the direction and objectives of the joint venture.
“We are thrilled to announce this significant milestone in our journey,” exclaimed Jörg Ortmeier, CEO of TWE. “This partnership brings together our complementary strengths and extensive industry knowledge. We are confident that it will unlock new opportunities, drive innovation, and create long-term value for our customers and stakeholders.”
The TWE OBT joint venture heralds a new era of advancement and progress in India’s nonwoven sector. With the combined expertise and resources of two industry leaders, the joint venture is poised to revolutionize the market, providing cutting-edge nonwoven solutions that will meet the escalating demands of the health and hygiene industry.
This ambitious partnership marks a major step forward in TWE’s global expansion strategy and underlines their commitment to driving innovation and excellence in the nonwovens industry. As TWE OBT embarks on this exciting journey, the world eagerly anticipates the transformative impact it will have on India’s nonwoven landscape and the broader health and hygiene sector in the region.