Sunbeam to set up unit in Bengal, major expansion in NE

By Staff
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Google Oneindia News

Kolkata, Jan 03 (UNI) Sunbeam Remedies Private Limited, an associate of Orind Sashwat Group, is planning to set up an Ayurvedic unit in North Bengal.

Announcing the launch of its East India Operations yesterday, Sunbeam Managing Director and CEO Shiv Kumar Agarwal here said,''We are planning to acquire an existing unit and start manufacturing as a greenfield project is not techno-economically viable at this moment.'' However,a new manufacturing unit would be set up in Bengal in 2008-2009 with an investment of Rs 20 crores. Another unit would be set up its second allopathic unit in Sikkim.

Mr Agarwal said, ''The growth rate of the Pharma Industry is substantially high in this region, hence the company has decided to set up a unit and launch its products in this part of the country.'' Mr Agarwal further explained the reasons why the company expanded in Eastern India. He mentioned that '' having started its marketing activities at the Institutional level in Western India, the company is now totally poised for launching its product in the entire Eastern and part of North India viz. West Bengal, North Eastern States, Bihar, Jharkhand, Orissa and Rajasthan.

By virtue of this expansion the group will now have a very strong presence in Eastern India.'' The company aims to be one of the first 30 Companies within five years from now, he said. Sunbeam Remedies Pvt Ltd would become a true multinational company and go for Exports in the Afro-Asian Countries.

''The company aims a turnover of Rs 30 crores by March 2008 with a quantum leap to Rs 300 crores in the next five years.'' he said adding that the targetted turnover for the fiscal 2007-08 would be around Rs 30 crore.

Mr Agarwal said,''Sunbeam Remedies will strive to promote the best products with streamlined efforts by our research department. We undersatand that only superior quality products made available at an affordable rate will catapult our company to success. We hope our new products will go a long way in supporting our expansion plans.'' Sunbeam Remedies Pvt Ltd deals in fourth generation Antibiotics relating to Cardiac, Neurological, Diabetic,Opthalmic, Veterinary, Ayurvedic medicines and OTC products. The company has also acquired six branded generic products.

When quizzed on the vision of the company in the forthcoming financial year, Mr Agarwal mentioned that the company aim to provide international standard of products and service at an affordable price to the people of India.

Speaking about its investment plans, he said Sunbeam Rs 30 crores was invested for its factory at Kotdwar, Uttaranchal in 2006-2007.

UNI

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