Greenlam Industries to foray into Plywood and Particle Board business, to invest Rs.950 crores for setting up Greenfield manufacturing projects
New Delhi : Greenlam Industries Ltd., among the world’s top 3 laminate manufacturer, on Monday announced its plans to invest Rs.950 crores over a period of 2-3 years, towards setting up of third Laminate plant and foray into Plywood and Particle Board business.
The investments in third Laminate plant and Particle Board will be done under Greenlam South Limited, a 100% subsidiary of Greenlam Industries Limited based at Naidupeta, in Andhra Pradesh. The company will invest in latest technology, equipment and new generation machinery to manufacture Particle Boards with a capacity of 231000 CBM per annum at an investment of Rs.600 crores. The company shall set up laminate capacity of 3.5 mn sheets & boards per annum at an investment of Rs.225 crores. This state-ofthe-art integrated facility will be first of its kind in the industry providing matching decors for laminates, compacts, post forming laminate and prelam particle boards, thereby providing holistic surfacing & substrate solution to the customers.
The dedicated Plywood manufacturing facility will come under the newly acquired subsidiary HG Industries Limited based at Tindivanam, Tamil Nadu, having a capacity of 18.9 mn sqm. per annum with a Capex of Rs.125 crores. Greenlam expects to commence the commercial production of Plywood & Laminate by Q4FY23 and Particle Board by Q4FY24.
“Over the years, we have come a long way in establishing a leadership position for Greenlam Industries, both in India and International markets. As a front-runner in the category, we have always been motivated to break-barriers and seek opportunities for disruptive growth. These Greenfield manufacturing projects will involve a capital outlay of Rs.950 crores over a period of 2-3 years. Our entry into the Plywood and Particle Board business and Laminate capacity expansion, reinforces our commitment to becoming a one-stop destination for all surfacing and substrate needs” Saurabh Mittal, Managing Director and CEO, Greenlam Industries Ltd. Said.