La Opala plans to strengthen base in foreign markets
La Opala RG Ltd seeks to consolidate its base in markets in the US, Middle East and Japan as part of its expansion plans.business Updated: Jun 13, 2007 13:21 IST
India's leading tableware manufacturer La Opala RG Ltd is seeking to consolidate its base in markets in the United States, Middle East and Japan as part of its expansion plans.
The company, which already has a manufacturing unit in Madhupur in Jharkhand, is setting up its second production base in Uttarakhand.
La Opala Chairperson AC Chakraborty said the company had decided on Uttarakhand because of economic benefits and the easy availability of electricity.
"We are trying to consolidate our base especially in the US, Middle East and Japan in near future," Chakraborty told IANS.
The firm, which started in 1988 with technical collaboration from South Korea's Hosan Glass, presently exports its tableware products to over 20 countries, including US, Britain and France.
Addressing a press conference in Kolkata on Tuesday, Managing Director Sushil Jhunjhunwala added that the new Uttarakhand plant would be developed with an investment of Rs 370 million and would be a specialised unit for manufacturing only Opal ware.
He said La Opala earned revenues worth Rs 540 million in the 2006-2007 financial year as against Rs 460 million in the last fiscal.
"We shall manufacture lightweight ranges in the new unit, which will match the standard of world class products. We expect to start our production at Sitaramganj unit in Uttarakhand in the second quarter of the current fiscal."
"Out of the total investment, Rs 250 million would be sourced from financial institutions while the rest would be chipped in by the company's internal resources," said Jhunjhunwala.
He said the primary aim of the new unit would be to manufacture quality products at affordable prices using eco-friendly technology.
"The production capacity of the new plant would be around 4,500 tonnes per annum," he added.