Mumbai: Greenply Industries Limited (GIL), the leader
in the Indian laminates and plywood industry, today announced
to significantly scale-up its operations through extensive
expansion and marketing plans. In the wake of a rapidly
growing industry, the company has decided to expand the
capacity of its laminates division by 33 per cent with
a total investment of` Rs16.5 crore. The Rs254-crore turnover
company has also decided to step-up its marketing operations,
with an increased emphasis on advertising and customer
by strong export potential and an optimistic 20 per cent
domestic growth in the branded laminates market, the company
plans to increase the volume of the laminates manufacturing
plant located at Behror, Rajasthan by 2.40 lakh sheets
to 3.20 lakh sheets. GIL aims to boost its revenue from
laminates division by almost 25 per cent to Rs170 crore.
Currently, their range of laminates, which includes GreenLam,
GreenGloss and GreenTouch, enjoy a 25 per cent market
share in the organized laminates industry in India.
the rationale behind the move, S P Mittal, chairman, Greenply
Industries Limited, said "The country''s upbeat economic
situation and the optimistic real estate scenario in the
country has also provided a fillip to the branded laminates
and plywood industry. In addition, we expect the easier
availability of home loans and falling interest rates
to result in an increased demand this fiscal. We are also
experiencing increased demand from international markets.
These have been the key motivating factors behind our
decision to expand the capacity of the laminates plant."
support its increased manufacturing capabilities, GIL
has also planned an aggressive marketing strategy to expand
reach and strengthen its presence in the domestic market.
The Company has earmarked Rs5 crore for its advertising
budget this year, and will launch a new advertisement
campaign on April 14, 2004. Additionally, the company
has lined up several new shades of laminates such as Montreal
cluster, Vienna pine, American walnut, American ash and
on the new marketing strategy, Mittal said, "This
sector has traditionally had a low degree of customer-involvement.
Our marketing energies for this year are focused on establishing
a direct link with the consumer and also, strengthening
our dealer network to ensure easier availability. We have
also introduced several new designs in light of the continuous
endeavor of the company to offer the contemporary designs
and top quality products to our consumers."