Garware Hi-Tech Films, Lubrizol Sign MoU for TPU Films

Garware Hi-Tech Films Limited (GHFL) and Lubrizol have signed a Memorandum of Understanding (MoU) to collaborate on the development and manufacturing of advanced Thermoplastic Polyurethane (TPU) based film solutions in India. This partnership aims to leverage Lubrizol's TPU technology and GHFL's manufacturing expertise to localize premium Paint Protection Film (PPF) and develop new specialty TPU film applications. The collaboration is expected to accelerate product development, enhance backward integration for GHFL's PPF business, and potentially improve EBITDA margins by 150-200 bps. GHFL plans to invest approximately ₹118 crore in this platform, with the facility expected to be operational by December 2026. This initiative aligns with the 'Make in India' objective.