Alibaug, (Maharashtra), Nov 12 (UNI) Nitco Tiles Ltd, India's third largest tiles manufacturing company, has further strenghened its formidable position in the vitrified tiles segment by entering into a second contract manufacturing arragement (CMA) with FOSHAN LUNGO CERAMICS, which is part of New Zhong Yuan (NYZ) group the world's largest tiles manufacturer.
Talking to newsmen here, the Company's MD Mr Vivek Talwar said, ''This latest tie-up is aimed at ensuring Nitco Tiles an uninterrupted supply of vitrified tiles that would help the company to meet the continously rising demand for tiles in India.'' '' It was in 2004 that Nitco Tiles had first entered into tiles CMA and tied up with Nanhai Shangyuan Oulian Contruction Ceramics Co (now known as Foshan Chancheng Oulin Contruction Ceramic Co Ltd) of China. Under the arrangement Nitco had guaranteed to lift 15 lakh sq. metres of vitrified tiles annually. Interestly, by 2006, this figure had reached 35 lakh sq meters. As the demand for tiles is rising by around 30 per cent annually in India. Nitco Tiles thought it fit to tie up with one of the world's biggest tile manufacturer, even as the CMA with first supplier continues,'' Mr Talwar added.
UNI AR KU AW1012