OK Play India, India’s largest manufacturer of plastic-moulded toys, children’s furniture and playground equipment, plans to spend Rs 70 crore on the expansion of its manufacturing operations.
The company will put up its mother unit at Bawal in Haryana in an area of 15 acres developed by the Haryana State Infrastructure and Industrial Development Corporation.
Another unit in an area of 5 acres would be set up at Ranipet near Chennai. Negotiations are going on to acquire the premises of a factory at Baddi to support its expansion.
The major chunk of about Rs 55 crore has been earmarked for the Bawal plant as it would serve as the R&D centre for the group besides being the largest in size.
Talking to Business Standard, OK Play India Managing Director Rajan Handa said the Bawal unit would be the mother unit with the tool room, mould making and modelling room. The existing unit of the company at Rozkameu in Mewat is spread in an area of 4 acre.
The company recently signed an agreement for technical, manufacturing and marketing tie-up with the New Zealand-based company Purform to make state-of-the-art mannequins. Purform has closed its operations in New Zealand and provided all its moulds and machinery to their Indian partner.
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“The expansion would be funded by internal accurals, debt and FCCB. Currently with a size of Rs 80 crore, the company aims to clock a turnover of Rs 200 crore in the next two years,” Handa said.
“The increase in demand has been driven by the growth of automobile sector as we supply fuel tanks and seat shells to the automobile seat makers,” he added.
Due to the volume of products, the company refrained from export but would be exporting the mannequines to several countries.
The company also manufacturers water tanks and supplies it only to the government agencies, he added.