V-Guard inaugurates a new cables factory in Uttaranchal
Dt.
2009-04-27
V- Guard inaugurates a new state of the art factory in Uttaranchal: To expand the building cables business • Two production facilities, Uttaranchal and Coimbatore go on stream • Two units at full capacity are projected to achieve Rs 200 cr collectively New Delhi, April 7th 2009: V-Guard Industries Ltd, a leading electrical solutions provider, announced the launch of its two new cable factories in Uttaranchal and Coimbatore. With an investment of Rs.45 Cr the company plans to strengthen its business operations in this segment. The two new units at full capacity are collectively expected to generate revenue of Rs 200 Cr. Over the next 2 years the company plans to capture a significant market share in the power cable sector. V- Guard has set up two manufacturing facilities, Coimbatore plant for LT Cables and Uttaranchal for building cables. Setup over 35,000 sq feet with an investment of Rs 23 crore, the manufacturing unit for house wiring cables has a capacity to process 2500 metric tonnes of copper per annum. This is one of the biggest factories in India for the production of domestic house wiring cables. The state of the art production facility has acquired machinery from various reputed international brands like Niehoff (Germany) and Royle (United States). V- Guard is the only company which manufactures house wiring cables with a triple layer insulation technology, ensuring a significant emphasis on safety. The Uttaranchal factory will significantly boost the production capacity catering to the growing demand for cables. “We are extremely pleased to announce the two new factories in Coimbatore and Uttaranchal that are ready and totally equipped for commercial production. The depth and width of our strong distribution network will help considerably in building the product range and facilitating a quick start for our retail operations especially for wiring cables. The excise exemption in Kashipur and the transportation advantage will help us to competitively price this product in the north Indian market. We are expecting to capture a majority of the market share in the building cables sector within a span of 24 months” said Mr. PGR Prasad, Chairman of V-Guard Industries Ltd.
