Spain-based sanitary product maker Roca today announced acquisition of a plastic factory in Tamil Nadu to expand its manufacturing capacity for an undisclosed sum.
"The acquisition of the plastic factory is in line with the Government's initiative, Make in India, and will increase the capacity of manufacturing plastic toilet seat covers and polymer cisterns by 1 million pieces annually, taking total production capacity of Roca India's to 4 million plastic pieces," Roca Bathroom Products Pvt Ltd said in a statement.
Roca Bathroom Products Managing Director KE Ranganathan said the company has acquired this new facility as part of its strategy to grow aggressively in India through its power brands -- Roca and Parryware.
"This new facility will also help us to export our products to Roca group in countries like Australia, Turkey, Bulgaria, Malaysia and China. The facility's proximity to Chennai port will further help us with exports," he said.
Ranganathan said this acquisition will also allow the company to double its exports.
"We have been exporting seat covers to the group companies since 2016 and with this move, an exponential growth in exports is expected this year onwards...Currently, exports constitutes 5 per cent of the total sales and with this acquisition, we expect the exports to double," he added.
Various brands sold by the company in India include Armani Roca, Laufen, Roca, Johnson Suisse, Parryware and Johnson Pedder.
Disclaimer: No Business Standard Journalist was involved in creation of this content
