TCO to enter into partnership with European firm
Bangalore, Mar 17 (UNI) The Twenty First Century Offices (TCO) Private Limited, one of the five leading office furniture manufacturers in the country, has signed a Memorandum of Understanding with a leading European counterpart to have set up a plant in the city.
Informing this to reporters here today, Company Founder Member V Srinivasarao said the plant would come into existence in a couple of months.
He said the TCO, which had generated a turnover of Rs 50 crore within eight years of its inception, enjoyed the confidence of top IT clients like Intel, HP, Wipro, Cognizant, Texas Instruments, Honeywell and others.
Mr Srinivasarao said that by adopting innovative measures, the company had won the hearts of its clients by cutting down wastages and improving product quality and delivery periods. TCO had over 70 products to its credit and had recently released six new ones.
Another four were in pipeline in the coming year, he added.
The company's inhouse design team believed in making designs that suited Indian conditions. TCO had built a unique Design Studio in the city to provide a real time feel of material, colour combinations and other specifications of the products to architects and clients, thereby enabling them to choose the best option as far as erogonomics and aesthetics were concerned.
Mr Srinivasarao informed that the company also had plans to enter into the home segment and to begin with, it would offer premium furniture for living room, bedroom and kids, besides kitchen solutions.
Speaking on the occasion, Squadron Leader M V Dhakradhar, TCO AGM (Special projects), said the company also planned to build a state-of-the-art factory in the city at an estimated cost of over Rs 20 crore. The new plant, besides increasing TCO's production capacity, would also offer a world class working environment.
With the commissioning of the new plant the work force would also increase from 400 to 750. The proposed joint venture with an European company to set up another plant at a cost of Rs 12 crore would mainly cater to the demands of the European clients.
UNI MV RG RKN1617