Greenlam Industries Ltd., among the world’s top 3 laminate manufacturer today announced prominent plans for a fast-tracked expansion of the company. The company aims 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.
Speaking on the developments, Mr. Saurabh Mittal, Managing Director and CEO, Greenlam Industries Ltd. said “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.”
In addition, the company in its Board Meeting approved to split its equity share with face value of Rs. 5/- each into five equity shares of face value of Re. 1/- each and consequential alteration of Clause V (Capital Clause) of the Memorandum of Association of the Company, subject to the approval of Shareholders of the Company and such other approvals, if required.