Videocon Invests Rs 500 Cr For Glass Shells Capacity Expansion

The Rs 4,500 crore Videocon group, the largest manufacturers of glass shells for colour television picture tubes, has invested Rs 500 crore to increase its capacity from the current 9 million units to 16 million units.

Videocon happens to be the country’s only manufacturer of glass shells for television picture tubes. “With the recent hike in capacity, we are going to become the sixth largest manufacturer of glass shells in the world,” said group sources.

The capex that has been spread over the past two years has been entirely through internal accruals. The company expects the expansion programme to be completed by November this year.

“Our plant at Bharuch will have the largest capacity in a single location across the globe,” said group sources. The Videocon group which had aggressively invested in backward integration and got into manufacturing of components, today, claims to have 30 per cent of its group’s profitability coming from the components business. So far, the group has invested Rs 2,000 crore in the glass shell manufacturing business.

The glass manufacturing company was amalgamated with Videocon International in 1997-98. Earlier, the group had joined hands with Gujarat Narmada Valley Fertilisers to set up the glass manufacturing unit at Chavai, in the Bharuch district of Gujarat, as a 100 per cent import substitution project. The company had a technical collaboration with Techneglas Inc, USA, world leaders in glass shell technology.

600450 Videocon Invests Rs 500 Cr For Glass Shells Capacity Expansion
Date: 21 July 2003

See more news about:

Others also read

Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).
When did the wine industry start using glass bottles, and how did they settle on their current size of 750ml? For the answer to these questions, you have to go back in time - back thousands of years to when wine was first cultivated and enjoyed.
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.
KUB Malaysia Bhd has accepted an offer from Nippon Sheet Glass Co Ltd (NSG) to acquire its 15% stake in Malaysian Sheet Glass Bhd (MSG) for RM32.6 million in cash, or RM2.68 per share.

Add new comment