Sezal Glass to invest about Rs 5bn in next three years
The value-added glass business today is roughly about Rs. 20bn & is increasing at the rate of 30 % per annum.
The product profile following this investment will include manufacture of high quality, value-added glass products like security glass, safety glass, fire resistant glass, acid patterned glass, bullet proof glass and manufacturing of other glass products- patterned and solar glass.
Sezal Glass Ltd. had recently sold its float glass business to a Multi National Company - Saint-Gobain Glass India Ltd., a 100% subsidiary of France based Compagnie de Saint Gobain on slump sale basis for a consideration of Rs. 6860mn.
Commenting on the announcement, Mr. Amrrut S. Gada Chairman and Managing Director said, "This current expansion plan is a part of our ongoing strategy to invest in the state of art, specialized & revolutionary technologies, people, process, systems and infrastructure to support our long - term growth. Going forward, we aim to be the leading Glass player in the value-added glass segment in the country. Over the last one decade, our Company has successfully executed numerous projects within India & abroad and is known for its rich experience in providing glass solutions. Our brief experience in float Glass manufacturing has also helped us understand the needs of the customers well and this will go a long way in our building business relations."
"Taking into consideration aspects such as climate, safety & aesthetics the demand for high quality, value-added glass is rapidly increasing in India. The value-added glass business today is roughly about Rs. 20bn & is increasing at the rate of 30 % per annum. With this expansion plan underway we will have a 15% market share of the value added glass business in a span of next three to five years." stated Mr. Dhirraj S. Gada. Jt. Managing Director of the Company.
India Infoline Research Team / 08:44, Jun 26, 2015
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today. The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower.