Kolkata, Jun 12 (UNI) Archidply Industries Limited (AIL), the flagship company of the Archidply group will raise Rs 52.9 crores through its forthcoming Initial Public Offering (IPO) to set up manufacturing facilities in Karnataka and Uttarakhand.
Announcing this here today, AIL Chairman and Managing Director Deen Dayal Daga said the company would set up a manufacturing facility of plain particle board (PPB), pre laminated board (PLB) and decorative plywood (DP) at Chintamani in Karnataka.
Mr Daga said AIL would also set up another manufacturing capacity for medium density fibreboard (MDF) at Rudrapur in Uttarakhand.
He informed that the company's total income for the last fiscal was Rs 142.82 crores compared to Rs 100.62 crores during 2006-07.
Mr Daga said all the products were manufactured by the company in integrated multi-product modern facilities located in Mysore and Rudrapur.
'' The company's manufacturing facilities are equipped with machineries from the world renowned manufacturers of equipment for this industry such as Dieffenbacher and Wemhoner from Germany and Steinemann and Kundig from Switzerland,'' he observed.
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