Pune, Maharashtra, India, Wednesday, April 03, 2013 — (Business Wire India) — Finolex Industries Ltd (BSE -500940) and NSE-FINPIPE),the largest manufacturer of PVC pipes in India has commenced commercial production of PVC pipes at its state of the art manufacturing plant at Masar, near Vadodara in the State of Gujarat. Finolex Industries had entered into a MOU with Government of Gujarat during Vibrant Gujarat 2011 Summit for setting up this plant at an investment of approximately Rs 100 crore. The plant is set up on an area of around 29 acres and will go into production in two phases.
This is the first plant of Finolex Industries outside Maharashtra, where the company has two manufacturing plants. “Friendly industrial environment in the state of Gujarat prompted Finolex Industries to set up a Plant for the first time outside Maharashtra. The plant is strategically located to cater to the dynamic and ever growing agriculture and real estate market of not just Gujarat but also Northern states” said Mr. Prakash Chhabria, Executive Chairman, Finolex Industries Ltd .
Mr. Chhabria said that the first phase of the Masar plant has added to the production capacity of PVC pipes by about 30,000 tons per annum (TPA) . When the second phase will get commissioned during FY 2013-2014, the total capacity added by the plant will be 50,000 TPA. The company’s total aggregate production capacity across its three ultra-modern plants; viz one each at Pune and Ratnagiri in Maharashtra and this third one at Masar in Gujarat will reach over 200,000 TPA when the second phase is commissioned.
Finolex Industries is today India’s largest PVC pipe manufacturer and second largest PVC resin manufacturer. Its turnover for the year ended 31st March, 2012 was Rs. 2100 Crore. Finolex Industries is part of the Rs. 5000 Crore Finolex Group. Finolex Industries has already spread its wings to the farthest area of the country. It has a network of over 6000 counters in Gujarat and Northern India. It is poised to take a bigger leap with the help of the new production facility at Masar.
Finolex Industries has a plant for manufacture of PVC resin, with an annual capacity of 2,60,000 TPA, at Ratnagiri in Suspension and Emulsion Grade. As such, Finolex Industries is self-sufficient for raw material supply for its pipes manufacturing plants and is the only Indian PVC pipe manufacturer to have control on quality parameters from raw-material to finished product.
Finolex Industries is the first Indian PVC pipe manufacturer to be awarded the IS/ISO 9001:2008 Certification. Finolex Industries offers a wide range of PVC pipes and fittings, for diverse applications in Agriculture, Housing, Telecom, Construction and other industries in various sizes ranging between 20mm to 400mm diameter, in different pressure classes, as per relevant Indian Standards. The strength of Finolex Industries lies in its quality products and satisfied customers, which are catered through its very large distribution Network spread across India.
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L to R – Mr. Prakash Chhabria, Executive Chairman, Finolex Industries Ltd and Mr. Saurabh Dhanorkar, Managing Director, Finolex Industries Ltd.
