Takeover target: SSL Intl leverages its Indian JVs further

Venkatachari Jagannath
08 September 2003

Chennai: UK-based SSL International, currently being paid attention as a takeover target, is leveraging further its Indian joint ventures for its overseas market. The British company has two joint ventures here, both with the TTK group.

The first and long-standing one is the Rs 179.4-crore turnover TTK LIG, Asia's largest condom manufacturer, shipping sheaths to more than 40 countries. The other one is the Rs 15-crore turnover SSL TTK, selling Dr Scholl''s brand foot care products (See ).

The Rs 4-crore equity based SSL TTK is constructing a production facility near Chennai to cater to the domestic and the Asia Pacific markets. The Rs 7.5-crore facility is expected to go on stream next January. Till date, 12 foot care products (cracked heel cream, anti fungal cream, corn removal plasters, callous removal pads) have been launched.

On the condom front, two months ago the British company decided to shift the testing and packing facilities of its Avanti condom — the world''s first non-natural rubber latex/polyurethane condom — to TTK LIG''s Pondicherry unit.

SSL International shut down its testing and packing facilities in the UK on cost considerations. High price is one of the reasons for Avanti not taking off in a major fashion since its launch couple of years ago.

Currently TTK LIG meets SSL International's global latex condom market needs — including the manufacture of premium brand Durex — to a large extent from its plants located in Chennai and Virudhunagar.