HTTL to set up new plant in Uttaranchal with Rs 160 cr investment

New Delhi, May 15 (UNI) Hanung Toys and Textiles Ltd (HTTL), manufacturer and exporter of soft toys and home furnishings, today said it will set up a weaving plant in Uttaranchal by the year-end, with a capital investment of Rs 160 crore.

''HTTL's new unit near Roorkee, expected to be functional by the end of 2006, will have a weaving capacity of 21,000 metres per day, while processing capacity will be Rs 1 lakh metres per day. We are looking at around 16,000 finished sets per day,'' HTTL CMD Ashok Kumar Bansal told reporters here.

At present the company processes around 20,000 metres per day in its two plants in Noida. Earlier, it used to import its woven cloth from overseas.

But with the setting up of the new plant in Uttaranchal, the company will be weaving 21,000 metres per day in India itself, in order to cope with the increasing boom in the retail sector.

On a poser on expansion plans in the other segment, HTTL Vice-President Sales and Marketing A K Gupta said,''We have competition only from the textile segment, as we are the only players in the organised sector as far as our toys segments are concerned''.

The company has three manufacturing units in Noida -- a soft toy division, a fabric processing and a making up division.

The annual production capacity of the fabric processing and making up division is 60 lakh metres and 12.50 lakhs sets respectively.

Hanung reported a turnover of Rs 150 crore in the last fiscal, with the soft toys' section share at Rs 97 crore and home textiles at Rs 53 crore.

At present, HTTL has a domestic market size of 20 per cent at Rs 600 crore, while its position vis-a-vis the international market is over 2 billion dollars.

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