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| MeTecno to upgrade Chennai plant |
| TE Narasimhan / Chennai Apr 23, 2009, 00:52 IST |
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MeTecno (India) Pvt Ltd, the local arm of Italy-based Metecno group, is planning to invest around $7 million (Rs 35 crore) for upgrading its Chennai facility. The company is also looking at setting up afacility in the northern or western part of the country.
The company, which had set up a manufacturing plant for sandwich panels at Sriperumbudur in 2007, is planning to introduce ‘pre fabricated house’ for the first time in the country.
Speaking to Business Standard, Metecno Group chief executive officer V Balakrishnan said the company had so far invested $10 million in Chennai and would invest another $2 million to buy new equipment.
The Sriperumbudur facility — MeTecno India Private Limited — produces panels for roof, wall and cold storage. It has a capacity to produce 1.8 million sqm sandwich panels per year, said Anup Kumar Dave, COO, Indian operations. He said the facility in north, near Delhi or in west in Gujarat would cater to the northern market.
Speaking about India, Balakrishnan said the current Indian panel market was estimated to be around Rs 600 crore. This is expected to grow by 10-15 per cent.
The company has a market share of around 10-12 per cent. Of this south plays a key role with a share of around 40 per cent, followed by north with 30 per cent and west 20 and east 10 per cent.
The company reported sales of Rs 50 crore in 2008 as against Rs 30 crore in 2007. It has set a target of around Rs 65-70 crore during the current year.
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