Jammu-based coir firm to invest Rs 15 cr in upgrade

As part of its expansion and diversification plans, Jammu-based Anand Polyurethanes Pvt Ltd is planning an investment of Rs 15 crore. The company will spend Rs 10 crore in acquiring state-of-the-art machinery.

The firm, currently involved in the manufacture of rubberised coir, polyurethane and rebonded foam, has got an overwhelming response in the recently-held Indo-Pak Expo.

Once installed, the capacity (the number of mattresses) of the firm will go up by 1,000 pieces a day. The company is also diversifying into the manufacture of expanded polyethylene foam, and will set up a unit in Jammu with an initial investment of Rs 5 crore.

The firm's managing director, Ajay Anand, was in Ludhiana recently to inaugurate the first outlet.

Speaking to Business Standard, Anand said, "We will be investing Rs 10 crore on technology upgrade. To meet the growing demands for our products, we are planning to enhance capacity. The demand for rubberised coir form is increasing. We are also diversifying into the manufacture of expanded polyethylene foam, and will be coming up with a new unit in Jammu itself. Initial investments will be Rs 5 crore for this."

The ISO-9001-2000 company currently generates 50 per cent of its revenue from exports. It exports to European countries, the Gulf and South Asian countries.

Adding further, Anand said, "In the recent Indo-Pak expo, we generated good business. There was great demand for our products. If all goes well, we will set up a unit in Pakistan as well. The opening up of the Indo-Pak border can generate many opportunities for entrepreneurs. We specialise in the use of premium-quality imported raw material in highly sophisticated plants."

Speaking about the firm's product range, Anand said, "All these ranges have been introduced here in our Ludhiana. We will definitely come up with more outlets in Punjab."