Titan commissions new plant in Tamil Nadu
Tata group firm Titan Company on Thursday said it has commissioned a new manufacturing plant in Tamil Nadu for its watch division with an investment of over Rs 75 crore.business Updated: Sep 11, 2014 21:10 IST
Tata group firm Titan Company on Thursday said it has commissioned a new manufacturing plant in Tamil Nadu for its watch division with an investment of over Rs 75 crore.
In a BSE filing, the company said: "The company's watch business has over the years excelled at product development as well as manufacturing achieving global standards.
"We are pleased to inform you that a brand new stainless steel case manufacturing facility has been commissioned at Kallapalayam, Palladam - Cochin Frontier Road, Coimbatore, Tamil Nadu."
The new plant has been set up with technical assistance from SEIKO EPSON, Japan to manufacture high-end stainless steel cases meeting global standards of quality with an investment in excess of Rs 75 crore, Titan added.
The initial capacity of the facility is 1 million cases per annum and it scalable to 2 million per annum and an employment potential of 250 people.
In the first quarter ended June 30, 2014, Titan's revenue from watches business grew by 10.4% to Rs 439.98 crore.
Titan's net sales were at Rs 2,853.66 crore during Q1, 2014-15.