Atlantic Care to set up unit in Kochi

Dubai-based Atlantic Care Chemicals is setting up a manufacturing facility in Kochi on an investment of Rs 1.5 crore.

Atlantic Care specializes in production and distribution of cleaning chemicals and operates a manufacturing unit in Dubai. The Kochi unit is expected to be operational in a month and will have a capacity of 10 metric tonnes per day.

Atlantic Care has tied up with Gulf India Trade, a wholly-owned subsidiary of Emirate National Chemicals for the distribution of its products in India. Atlantic Care plans to set up two more manufacturing units in Canada and Malaysia.

"We are planning to set up the Canadian unit by 2008 on an investment of $2 million and the required formalities are almost complete.

The Malaysian unit is likely to come up by 2009, and we are still in the initial stages of planning. Funding for all our ventures will be done through internal accruals but we may also, explore other options," Muhammed Kunju A, chief executive officer, Atlantic Care, said.

The company is launching 50 products to cater to sectors like hospitality, house-keeping, laundry care and automobile care. Kunju said that the company's products will be initially available for institutional customers only but that it might look at providing the same to retail customers by 2009.

Atlantic Care has tied up with Fabric Research Institute to set up a Fabric Care Research Laboratory in Bangalore on an investment of Rs 1 crore.

The company has set an ambitious target of achieving $100 million turnover by 2010. It expects its Indian operations to achieve turnover of Rs 6 crore by December 2007 and Rs 50 crore by end-2010. Atlantic Care's turnover for the year ended December 2006 was $30 million with net profit of $5 million.