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Pilkington sets sights on Indian market
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The world's leading finished-glass manufacturing companies are increasing their presence in Indian market. Pilkington Plc, a leading global glass maker, is planning to set up a fully owned subsidiary in India.
The other two leading global glass manufacturers, St Gobain and Asahi, are already present in India.
With the entry of Pilkington, the organised finished-glass market in India is expected to see intense competition.
Pilkington, one of the leading glass and glazing product makers for the building and automotive markets, plans to invest Rs 50 lakh (Rs 5 million) in India. But the multinational company is not sure whether it will undertake manufacturing in India.
Sources said the company had already sought the government's approval for wholesale cash-and-carry business of float-glass products.
Currently, Asahi India Glass Ltd is India's largest glass company, manufacturing a wide range of automotive safety glass, float-glass and architectural processed glass.
Asahi recorded gross sales and operating profits of Rs 691.52 crore (Rs 6.915 billion) and Rs 128.85 crore (Rs 1.288 billion), respectively, for the year ended March 31, 2005.
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September 27th, 2005
Source: Inhome.rediff.com |
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