The Hindu Business Line : Century Plywoods to enter laminate market soon

CENTURY Plyboards (India) Ltd is planning to enter the laminate market in a big way with the commissioning of its Rs 38-crore laminate producing unit in November, this year.

This was announced by the Deputy Managing Director, Mr Sanjay Agarwal, at a press conference here on Monday. The laminate factory project is spread over two phases. While the cost of the first phase is Rs 26 crore, that of the second is Rs 12 crore.

The first phase will be commissioned in November and will be funded through internal accruals and a loan of Rs 17 crore from State Bank of India. The second phase will be commissioned in August 2004 and is set to cost Rs 12 crore, of which Rs 8 crore will be taken care of by a SBI loan.

``We have already acquired the land and is located near our existing factory in South 24 Parganas. We have already ordered the machinery. The initial capacity of the unit will be one lakh sheets per month and subsequently this will be increased to three lakh sheets per month,'' Mr Agarwal told newspersons.The plywood manufacturing capacity of the company is 25,000 cubic metres per annum. Capacity utilisation is expected to go up from 16,000 cm per annum in 2002-03 to 19,000 cm in the current financial year.

Mr Agarwal claimed that Century was the largest plywood player in the branded market. The company is expecting huge export orders from Italy and Germany.

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