 "Amway TN facility to go on stream by mid 2015")
The facility has broken ground on Wednesday and the land lease has been registered, with plans to complete the first phase of construction activity by 2014 end to enable a launch of the facility by early 2015.
The company announced that the project, for which it has earmarked an investment of Rs 400 crore from internal accruals, would come up in an area of 49.4 acre that it acquired in 2012 after signing a memorandum of understanding with the State Industries Promotion Corporation of Tamil Nadu Limited (Sipcot).
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The new facility would consist of nine production lines for nutrition, cosmetics and oral care products, including four lines for nutrition supplements, two lines for protein supplements, two lines for cosmetics and one line for glister toothpaste.
The company said it had clocked a turnover of Rs 2,288 crore, with 20 per cent compounded annual growth rate over a period of five years. During the financial years 2011 and 2012, two of its brands from the Nutrilite segment reached a revenue of around Rs 200 crore, while the toothpaste brand Glister has registered a Rs 100-crore revenue. Its liquid detergent brand SA8 Gelzyme has also entered the Rs 100-crore revenue category, the company said.
Amway India has so far invested around Rs 200 crore in India, and has 152 offices and 69 warehouses across the country.
The company has recently tripled the production capacities at its vendor facility at Baddi, Himachal Pradesh, by commissioning four new production lines at an investment of Rs 55 crore.
The first phase at Baddi saw an investment of Rs 50 crore, taking the total investment there to Rs 105 crore.