Eastern Mattresses forms JV with South African firm

Eastern Mattresses Private Limited has formed a joint venture, International Sleep Solutions Private Limited, with Bam Furn Holdings (BFH) of South Africa.

“The joint venture will invest about Rs 10 crore to set up a new factory. The plant will produce 6,000 spring mattresses a month, with a target to do Rs 100 crore business in a year’s time,” said Navas Meeran, Eastern Group chairman.

The venture will manufacture and market superior quality spring mattresses across the country and abroad. It will have an exclusive spring mattresses manufacturing facility at Thodupuzha in Kerala. “The setting up of the factory is in the final stages. So, we should be able to roll out the new product by May this year,” he added. Besides making investment, BFH will also offer technology and marketing acumen.

 

The mattresses would be marketed under the brand ‘Sunidra.’ The JV will explore West Asia and South African markets for exporting the products, said Eastern Group rubber division general manager (operations), S Rajesh.

It also plans to have its second plant in place during 2014-15.