Wimplast Limited, part of the Cello group that has interests in thermoware, household items, stationery, moulded furniture, and cookware among others, is in an expansion mode. The company is planning to invest Rs 100 crore in its existing ‘Cello Bubble Guard’ manufacturing facility at Baddi in Himachal Pradesh during the next financial year.
Commercial production of Cello Bubble Guard started six months ago at Baddi. The product made from Cello Bubble Guard can be used for various applications like wood protectors, tile protectors, false ceilings, wall panels, cladding portions, door panels and advertising boards.
“Looking at the boom in the construction industry, we are focusing on this segment and eyeing a 100 percent growth. We have earmarked Rs 100 crore for the 2010-11 financial year for ramping up our production capacity at Baddi,” Randeep Gangta, area sales manager of Wimplast, told Business Standard, adding that the company was eying a turnover of around Rs 60 crore this year and Rs 120 crore by FY11.
Further, to capture a major share in the market, the company will also strengthen its dealership network through its existing 20 distributors.
“Punjab is an important market for us and the company is in talks with builders in the region for further tie-ups as many residential projects are coming up here,” he added.