Greenlam Industries Announces Entry into Plywood and Particle Board Business and to Set Up Third Laminate Plant
December 13, 2021 at 06:05 am EST
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Greenlam Industries Ltd. announced prominent plans for a fast-tracked expansion of the company. The company aims to invest INR 9,500 million over a period of 2-3 years, towards setting up of third Laminate plant and foray into Plywood and Particle Board business. Being a pioneer in the decorative surfacing solutions, the company offers products ranging from decorative laminates, compact laminates, exterior & interior clads, decorative veneers, engineered wooden floors & doors for residential and commercial spaces. Witnessing a spiral demand in the wood panel segment, the company has taken the next leap and decided to expand its portfolio by venturing into two adjacent categories - Plywood and Particle Board and also setting up third Laminate plant. This expansion will position Greenlam from a decorative surfacing company to a leading integrated wood panel player. 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 INR 6,000 million. The company shall set up laminate capacity of 3.5 million sheets & boards per annum at an investment of INR 2,250 million. This state-of- the-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 million sqm. per annum with a Capex of INR 1,250 million. Greenlam expects to commence the commercial production of Plywood & Laminate by fourth quarter of FY23 and Particle Board by fourth quarter of fiscal year 2024.
Greenlam Industries Limited is an India-based company, which is engaged in the business of manufacturing laminates, decorative veneers and allied products through its factories at Behror and Nalagarh. The Company manufactures compact panels, cladding solutions, restroom cubicle / locker solutions, kitchen solutions, decorative veneers, engineered wooden flooring, staircase solutions and engineered wooden door sets, in addition to a range of decorative laminates. It operates through three segments: Laminates & Allied Products, Veneers & Allied Products, and Plywood. Laminate & Allied Products segment is engaged in the business of manufacturing of laminates, compact laminates and other allied products. Veneer & Allied Products is engaged in the business of manufacturing of decorative veneers, engineered wood flooring, engineered door sets and door leaf, and other allied products. The overseas subsidiaries of the Company are mainly engaged in the marketing and distribution of its product.