Axiom is a dominant player in the synthetic rope manufacturing industry in India. Applications for synthetic ropes include mooring and towing of ships and rigs and bays in the construction industry.
With the infusion of growth capital by Banyantree, Axiom is poised to become among the world’s largest producers of synthetic ropes. A majority of Axioms’ production is exported to countries including Indonesia, Singapore and Norway.
These ropes are required to conform to stringent load testing and are periodically replaced after their service lives. Axiom products are insured against mechanical failure by Germanischer Lloyds.
It is a stipulation of the insurance that a rope cannot be used for more than a specified period. Axiom thus benefits from a captive replacement demand. Axiom is currently a private company and BanyanTree has a representation on the Board.