Garware Hi-Tech Films and Lubrizol sign MoU for TPU Tech Product Development

Garware Hi-Tech Films Ltd (GHFL), a manufacturer of speciality films, and Lubrizol, a speciality chemicals company, have signed a memorandum of understanding to collaborate on the development and manufacturing of Lubrizol's thermoplastic polyurethane (TPU) technology in India.

The partnership is a significant milestone in GHFL's strategy to establish a technology-led TPU product platform for new speciality applications. It also facilitates backward integration into TPU films for its premium Paint Protection Film (PPF) business.

The partnership will further integrate GHFL's engineering, processing, and manufacturing capabilities with Lubrizol's global TPU technology and material science expertise to create and market new, high-value TPU-based products in India.

Nearly 25% of GHFL's approximately Rs 118 crore investment in the platform is expected to be allocated toward new product development and technology capabilities, highlighting the strategic focus on building future products and applications.

Monika Garware, Joint MD & Vice Chairperson, GHFL, said, "This collaboration gives us the opportunity to develop new, high-value products across multiple specialty applications, while also strengthening our backward integration in PPF."

Commenting on the partnership, Abhishek Shrivastava, VP and Managing Director, Lubrizol IMEA, said, "Our association with Garware reflects a shared vision of advancing high-performance solutions for the Indian market while contributing to a stronger and more competitive specialty materials ecosystem."

The collaboration will also enable GHFL to backward integrate a critical input for its premium PPF business. The facility is expected to be India's first dedicated TPU extrusion platform for premium PPF and will support the company's expansion of PPF manufacturing capacity to over 600 LSF.

Source: The Economic Times