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Saturday, Jul 09, 2005

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Vivimed buys site for expansion

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HYDERABAD: Vivimed Labs Ltd, the PCI (personal care ingredient) manufacturer, has zeroed in on a site at Choutuppal in Nalgonda district for its expansion project.

The company, which is going in for a public issue today (July 9) to raise resources for the expansion, has acquired 23.2 acres to set up the Rs 26.50-crore unit to expand the production capacity of triclosan, from 480 tonnes to 750 tonnes. Currently, the company runs a plant at Bidar in Karnataka.

The Choutuppal facility would be ready by the end of December, Mr Santosh Varalwar, Chairman and Managing Director of the company, said. Announcing the public issue here, he said the new facility would also manufacture Avis, CaGP, Cosvat and A123.

The issue, which closes on July 13, seeks to raise Rs 17.50 crore. The remaining amount will be funded by banks. The company registered a net profit of Rs 4.83 crore on a turnover of Rs 55.19 crore during 2004-05.

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