JHS Svendgaard sets up subsidiary in UAE

New Delhi, Jun 23 (UNI) JHS Svendgaard, a leading dental and oral health care manufacturer, today said it has set up a new subsidiary in Ras-Al-Khaimah, Free Trade Zone, United Arab Emirates (UAE).

The subsidiary initially will be engaged in import, export and trading of oral care products and personal care products, company said in a statement.

The company has raised about Rs 9.2 crores to fund its future plans and ramp up its business not only in the domestic market but also globally.

''With infusion of new funds and our overseas initiatives, we see JHS achieving its business objectives rapidly and surpassing growth targets,'' company Managing Director Nikhil Nanda said.

Presently, 700 million units of toothbrush are being sold in India and the demand is projected to grow to 1700 million by 2012.

''With our diverse platform of product offerings and excellent manufacturing capabilities, we are well positioned to serve the demand,'' he said.

The company is also looking to diversify its portfolio and enter tie-ups for new products.

It had earlier bagged order from Subhiksha retail to manufacture tooth brush and tooth paste under the brand name 'Dr Beam' for the chain.

JHS is one of largest manufacturers of the segment engaged in design and development of Oral Hygiene Products such as Toothbrushes, toothpaste, teeth-whitening gel, and mouth rinse.

The dental and oral care market is expected to grow at 10 per cent annually in the next five years.

UNI MP PDT AS1423