Having crossed through anxious times with the slump in the real estate activities, laminate manufacturers in Chandigarh are once again bullish.
Reason with the surge in real estate activities in the last few months the laminate manufacturers in the region maintain that business is moving back on track. There are around six to seven laminate manufacturers in the region.
The slump in the real estate activities coupled with the global turmoil had affected the business of laminate manufacturers in the region by 20-25 per cent. Satish Gupta, executive director, Golden Laminates Ltd, said the surge in real estate activities was helping the business of laminate manufacturers move towards normalcy.
Golden Laminates manufactures high pressure laminates that serves the purpose of gratifying the needs of decor and electrical fittings.
Gupta added that Golden Laminates, for whom 75 per cent business was through exports, was more susceptible towards changes in the global economy.
The company has been exporting its products that include decorative laminates and other form of laminates for household as well as industrial purpose to countries in Europe, Asia, Africa and West Asia.
However, Golden Laminates was able to compete with the global turmoil as the company launched an aggressive marketing strategy.
Gupta said the focus of the company was result-oriented and not price-oriented, as the company increased its production and was a bit flexible on the pricing part.
But things were not that rosy for other laminate manufacturers in the region, especially those dealing in the domestic market that had been struggling with the slowdown.
B D Arora, executive director, Virgo Group of Companies, said that the slowdown in real estate activities affected the business of the company.
Virgo Group of Companies is a diversified group offering variety of products like plywood, laminates and prelam particle boards. The company that manufacturers decorative and industry laminates, caters to the domestic market only.
Arora said with the slump in real estate activities, business of laminates was affected by 15-20 per cent.
Similarly Anand Singhal, director, Samrat Plywood Ltd - Mica (HPL) Division that manufactures decorative high-pressure laminates also said that growth in laminate market was visible.
