Monday, September 17, 2007

Hindustan Sanitaryware - Expansion Of Glass Container Capacity By 68% At Rs 210 Crores Investment

Hindustan Sanitaryware & Industries Ltd has informed that the Board of Directors of the Company at its meeting held on September 15, 2007 has approved the proposal for expansion of Companys Container Glass Division for manufacturing glass bottles and jars at a new location in central Andhra Pradesh with a capacity of approx. 425 tonnes per day, at an estimated cost of Rs 210 crores (the Project).

The Project is expected to be completed by the 1st quarter of calendar year 2009.

In this regards the Company has issued the following press release:

Hindustan Sanitaryware & Industries Ltd on September 15, 2007 has announced the expansion of Class container capacity by 68% at a projected invest of Rs 210 crores.

The division, which manufactures glass bottles and jars for liquor & beer, pharmaceuticals, food and beverages segments, has a current capacity of around 950 million containers per annum and has been operating at full capacity for sometime. Given the buoyancy in the economy and the consequent demand for high value food, pharmaceuticals and liquor and beer bottles, our customers are experiencing excellent growth rates and are very bullish on the future prospects. As a result, the Company has decided to expand its capacity by 425 tpd in a green-field location in central Andhra Pradesh, close to the inputs and the markets. Most of the state-of-the-art plant & machinery and designs will be imported from European suppliers providing the capability to produce very high-quality products.

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