Interface Inc mulls manufacturing plant in India

Nasdaq-listed Interface Inc, a US-based carpet tiles maker, is contemplating setting up a manufacturing facility in India, "once it starts seeing a good amount of business coming out of this market."

The over $1-billion company currently has 7 manufacturing plants across geographies, with the closest being in Thailand and the latest in China.

"India, at present, contributes between 2% and 3% to our global revenues. Setting up a production facility here will be a natural progression. However, it will not happen immediately," said Raj Menon, country manager (India), Interface.

Menon was speaking to Business Standard on the sidelines of the Confederation of Indian Industry's two-day international conference on green buildings that kicked-off in Hyderabad on Tuesday.

 

Stating that setting up a carpet tiles' manufacturing plant typically requires an investment of between $30 million and $40 million, he said the business the company currently was in was capital-intensive.

"India is a dynamic market, which is growing at 15-20% year-on-year," Menon said, adding that the company was currently catering to the the 'A-Class'  IT and ITeS market (International corporates and Indian MNCs) in the country.

Interface Inc, established in 1973, marked its direct presence in India in 2007. Its wholly-owned subidiary Interface Flooring India Private Limited, headquartered in Bangalore, currently operates from 5 office-cum-showrooms across New Delhi, Hyderabad, Bangalore, Mumbai and Chennai.

The company has recently unveiled Fotosfera, its first product made from bio-based nylon.