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| McNally plans Gujarat plant |
| BS Reporter / Kolkata Feb 11, 2009, 00:36 IST |
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McNally Sayaji Engineering, part of the Brij Mohan Khaitan group, has decided on setting up a plant in Gujarat, the location of which will be finalized in a month.
Deepak Khaitan, chairman of McNally Bharat Engineering, the parent company, said that land requirement for the project would be 25 acres, making it the largest among McNally’s manufacturing facilities.
The investment in Gujarat plant would be Rs 150 crore in three years.
McNally Sayaji has an existing facility in Gujarat but that would not suffice the requirements. Khaitan explained that there was no scope for expansion at the site, which was spread over six acres. The other manufacturing facilities of McNally were at Kumardhubi in Jharkhand, Asansol in West Bengal and Bangalore in Karnataka.
Khaitan said, McNally would see exponential growth.
This year, McNally Sayaji would have a turnover of Rs 210 crore and next year it would be in the region of Rs 500 crore.
Meanwhile McNally Bharat Engineering Company and McNally Sayaji Engineering were going through a scheme of arrangement. According to the arrangement, the product division of McNally Bharat would be transferred to McNally Sayaji.
The rest of the business of McNally Bharat Engineering would continue in the parent company. Last year, McNally Bharat acquired Sayaji Iron and Engineering Co. Khaitan today launched group company Eveready’s power sources and lighting space product range.
It would look at acquisitions in lighting space in the near term.
Currently batteries account for 70 per cent of Eveready’s turnover while flashlights and other product contribute 10 and 20 per cent, respectively.
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