Bajaj Hindusthan sets up a subsidiary for Rs 240 cr. MDF/PB project

Mumbai, Aug 05 (UNI) Bajaj Hindusthan has set up a 100 per cent subsidiary to implement a Medium Density Fibre Board (MDF) and Particle Board (PB) project.

Announcing this, the company said the total cost of the project has been estimated to be Rs 240 crore and it is likely to be completed within 15 months. MDF and PB will use the bagasse generated by the company and will be a significant value addition.

The company through this subsidiary will have a substantial market share in the value added MDF and PB segment upon completion of this project, it said.

During the June 06 quarter, Bajaj Hindusthan reported 20.62 per cent rise in profits from Rs 52.96 crore to Rs 63.88 crore in the quarter ended June 30, 2006. Sales for the quarter rose 24.01 per cent to Rs 444.63 crore compared with the corresponding quarter, a year ago.

UNI SN PM AW1913