MeTecno's facility to be inaugurated on Jul 4

Chennai, Jul 3: MeTecno, the leading sandwich panel manufacturer in the world, will inaugurate its first unit in India at Sriperumbudur tomorrow and the company was looking a turnover of Rs 750 crore in the first five years.

Talking to reporters here today, Company COO Anup Dave said the unit, sixth in Asia, was set up with a total investment of 12 million US Dollars and would have an annual production capacity of 1.8 million sq metres of sandwich panels in cut lengths ranging from two metres to 15 metres.

The new facility at the Sipcot Industrial complex would produce panels for buildings and cold storage industry on a continuous line.

It would produce four panels, Glamet (roofing panel), Monowall (wall panel), Firgowall (cold storage) and Monoroof (for roofing).

Set up with a 55:45 equity participation by MeTecno and Simest, an Italian government funding agency, the unit would initially cater to the needs of domestic market, especially the MNCs who were making a beeline to set up their cases in Sriperumbudur.

''We are also looking at export orders from Vietnam and Gulf, which will be about 15 to 20 per cent of the total production,'' Mr Dave said.

Since the market potential was high in India, the company would consolidate its presence by setting up its units in West, North and Eastern parts of the country.

The construction works, which began in October last, were completed in a record time, and the unit would go on stream from tomorrow. ''We are looking at a turnover of Rs 750 crore in the next five years,'' he added.

UNI