We are pleased to announce a strategic joint venture in which we and OTL, a leading manufacturer of nonwoven textiles in India, have entered into a 50:50 partnership. This joint venture will operate under the name TWE OBT Private Limited. As part of this collaboration, TWE will acquire a 50% stake in OTL, thereby establishing a partnership that lays the foundation for growth in the Indian nonwoven market. TWE is globally recognized for its nonwoven products in the healthcare and hygiene segment and already serves customers in India. The joint venture will invest in building a new production facility for manufacturing nonwoven products for the healthcare and hygiene sector, driving growth and market expansion in this rapidly growing segment.
The key highlights of the joint venture:
Equal Partnership: The joint venture represents an equal partnership between TWE and OTL, with each company holding a 50% stake. This ownership structure ensures a balanced and cooperative approach that leverages the strengths and resources of both companies. The TWE Group has invested cash into the existing business for the 50% stake in the joint venture.
Complementary Expertise: The strategic alliance brings together the industry knowledge, market experience, and technical capabilities of TWE and OTL. This synergy will promote innovation, efficiency, and competitiveness, enabling the joint venture to offer exceptional value to customers. OTL is already a key player in the nonwoven segment in India, especially in the automotive sector, with strategic customer alliances with major OEMs. TWE is globally known for its nonwoven products in the fields of healthcare, hygiene, automotive, filtration, building, living, and cleaning.
Market Expansion: The joint venture opens new growth opportunities by combining the market reach and customer base of both companies. The expanded presence allows the joint venture to access untapped markets, diversify revenue streams, and build closer relationships with customers in India and neighboring countries.
Joint Decision-Making: As equal partners, TWE and OTL will closely collaborate on strategic decisions and operational matters. The shared leadership structure will ensure that both parties have an equal say in shaping the direction and objectives of the joint venture.
Shared Resources and Synergies: The collaboration will enable efficient allocation of resources, exchange of best practices, and realization of synergies between TWE and OTL. This will optimize operational efficiency, increase productivity, and promote sustainable, profitable, and long-term growth.
Customer-Centric Focus: The joint venture remains committed to delivering exceptional customer experiences in India. By leveraging the combined capabilities and expertise of TWE and OTL, the joint venture will offer a broader range of innovative products, services, and solutions that meet the evolving needs of customers.
Jörg Ortmeier, CEO of the TWE Group:
“We are very pleased to announce this important milestone in our journey as TWE enters into a 50:50 joint venture with OTL. This partnership brings together our shared vision, complementary strengths, and extensive industry knowledge. We are confident that the joint venture will open new opportunities, drive innovation, and create long-term value for our customers and stakeholders.”
Rudra Chatterjee, Chairman of OTL:
“The joint venture with TWE marks a significant chapter for OTL. This partnership combines TWE’s expertise with OTL’s operational experience to offer better solutions to our customers. Together, we are committed to building a successful and sustainable joint venture that drives growth and sets new industry standards.”
