Plyboard manufacturer Greenply on Monday said it had invested Rs 800 crore in its new plant in Chittoor in Andhra Pradesh, which will start commercial operations by June-end.
The new plant is set to be the largest MDF (medium-density fireboard) plant in Asia," a company statement said.
The company also announced the merger of it brands 'Green Panelmax' and 'Green Floormax' into a new brand 'Greenpanel'.
The company products, including MDF, wood floors, plywood, veneers and doors will now be manufactured, distributed and marketed under the brand name Greenpanel, the statemet said.
On Monday, shares of Greenply on the BSE ended at Rs 309.4 per share, up 5.50 points or 1.81 per cent from the previous close.
--IANS
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