French Ceiling In Jv With Technovation
French company Extenzo Advanced French Ceiling SAS today announced its tie-up with Technovation to form a joint venture to produce stretch ceiling materials at their proposed plant in Pondicherry.
The new company, Chennai-based French Ceilings Pvt Ltd is a 60:40 joint venture between the French and the Indian partner.
French Ceilings proposes to manufacture 50,000 sq meters of stretch ceiling materials, 50 per cent of which will be exported to south east Asia and Middle East. The company expects a turnover of Rs 7.5 crore in the first year of its operations.
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The new product under the brand name, Extenzo, would go into commercial production by March 2004.
D B Radja, managing director, French Ceilings, said the new stretch ceiling would be directly pitted against the existing false ceiling products made out of gypsum.