Exel Composites, Kineco Group announce joint venture in Goa
A joint venture between the Kineco Group and Exel Composites creates a new composites design, engineering, and production company focused on serving the Indian market with pultruded composite solutions. The joint venture brings together two well-known names in the composites industries, Exel Composites and The Kineco Group, creating a new company called Kineco Exel Composites India (kinecoexel.com). The company and its manufacturing facility are based in Goa, India and will offer pultruded composites for markets as diverse as transportation, wind power, infrastructure, telecommunications, aerospace and defense. The Kineco Group, also headquartered in Goa, was founded in 1995 and offers a range of advanced composite products and integrated systems, and is known for its capabilities and quality, as well as its composite design know-how. Exel, founded in 1960 in Finland, is today the world’s largest pultruder; the joint venture is the latest step in the company’s global growth strategy. “Kineco has excellent brand recognition in India, and together with our pultrusion expertise we are starting from a very strong position,” says Olli Tevä, SVP Sales and Marketing at Exel Composites. “This joint venture provides immediate access into the Indian market which shows clear growth potential and demand. India has been a focus of ours for a while, and now with this ‘in India, with India, for India’ capability the team at Kineco Exel Composites India can begin to reach out to prospective customers in the joint venture’s focus market segments.” “Kineco is happy to be the partner of choice for a leading global company such as Exel, who has decided to invest in India,” says Shekhar Sardessai, Founder and Managing Director of Kineco Group and Managing Director of Kineco Exel Composites India. “Exel’s technological expertise and composites know-how, particularly in pultrusion, will enable us to bring our own, more recent pultrusion […]