Aliaxis Group S.A., a global manufacturer and distributor of plastic fluid handling systems, and Ashirvad Pipes., an Indian uPVC and cPVC pipes and fittings manufacturer, have announced a joint venture that will expand the product offering of Ashirvad in the building and sanitary segments in India.

Combining Ashirvad’s strong manufacturing setup and market presence and Aliaxis’s portfolio and technical know-how, the joint venture will allow Ashirvad to further strengthen its offering and market position across India, whilst it represents a major step forward for Aliaxis in the growing Indian market.

The Aliaxis Group will own the majority of the joint venture with a significant shareholding retained by the Poddars, the founders of Ashirvad Pipes. The joint venture will be led and run by the Poddars together with its existing strong and experienced management team and will continue to do business in India under the Ashirvad brand.

The deal is subject to various conditions, including regulatory approvals and is expected to close before the end of the first quarter of 2013. Financial details about the transaction were not disclosed.

Ashirvad has a strong network of 1,200 distributors and 14,000 dealers and is expected to achieve gross sales of INR 1,000 crores, or an estimated EUR140 million for the financial year ending March 31, 2013.