The new plant will manufacture automotive safety glass.
The company has two existing plants. One an automotive glass plant is based in Rewari, Haryana, and the second; a float glass plant is based in Taloja, Maharashtra which has a capacity of 29.20 million square meters on 2mm thickness basis.
The new plant will initially have a capacity of over 500,000 laminated windshields and will tentatively cost over Rs. 50 crores, to be funded primarily internally.
The combined capacity to manufacture laminated windshields after this plant is commissioned by October 2004 will be over 1.70 million. In addition, the Company has existing capacity at its Rewari facility for 1.20 million car sets of tempered glass.
Mr. Sanjay Labroo, Managing Director & CEO of Asahi India said, "Our Company has preformed strongly in the past few years. We have strong client relationships and the trust our customers place in us has made us the country's largest glass company. We have a commanding share of the automotive glass market and as leaders we have to invest to tap opportunities that will present themselves in the future. This new plant is a significant step for us and I am confident this investment will reap big benefits for Asahi India." The new plant will cater to existing customers in South India. These include Hyundai Motors, Toyota Kirloskar, Ford India, Hindustan Motors (Lancer Project), Volvo India, etc. Besides, the Company will be seeking to address some export markets using the new facility.
Asahi India is a joint venture between Labroo family, Asahi Glass Co. Ltd. of Japan and Maruti Udyog Ltd. Asahi India commenced its operations in 1987.