Hempel starts new manufacturing unit in India

Hempel starts new manufacturing unit in India

2:26 PM, 24th June 2011
Hempel starts new manufacturing unit in India
Kim Junge Andersen, CFO, Hempel.

LYNGBY, DENMARK: Hempel is expanding its operations in India, by opening a new manufacturing unit in Nashik, Maharashtra. The company also plans to invest approximately 15 to 20 million in a greenfield project over a period of three years.

The new factory, spread across 1500 sq mt will produce 1.5 million litre annually. The company can further increase capacity to 2.4 million litre. With the new greenfield plant, Hempel hoped to increase their product assortment and provide a mix of standard and specialised products for the local market.

Expansion in the Indian market is a part of Hempel’s business strategy, One Hempel - One Ambition. “We are excited to expand our presence in the Indian subcontinent and supply not only India, but also Sri Lanka, Bangladesh, the Maldives and Nepal,” said Kim Junge Andersen, CFO, Hempel.

 “India is a very important market for Hempel and the expansion will fast-track our growth in the region. We look forward to supplying the protective and marine coatings to the growing markets for these segments in South Asia. In these markets, our goal is to double our 2010 turnover to above 18 million by 2013 and to triple turnover to more than 25 million by the end of 2015,” said Umesh Singh, Director, Hempel South Asia.

(C) WOC News

 

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