Tata group firm Titan Company today said it has commissioned a new manufacturing plant in Tamil Nadu for its watch division with an investment of over Rs 75 crore.
In a BSE filing, the company said: "The company's watch business has over the years excelled at product development as well as manufacturing achieving global standards.
"We are pleased to inform you that a brand new stainless steel case manufacturing facility has been commissioned at Kallapalayam, Palladam - Cochin Frontier Road, Coimbatore, Tamilnadu."
The new plant has been set up with technical assistance from SEIKO EPSON, Japan to manufacture high-end stainless steel cases meeting global standards of quality with an investment in excess of Rs 75 crore, Titan added.
The initial capacity of the facility is 1 million cases per annum and it scalable to 2 million per annum and an employment potential of 250 people.
In the first quarter ended June 30, 2014, Titan's revenue from watches business grew by 10.4 per cent to Rs 439.98 crore. Titan's net sales were at Rs 2,853.66 crore during Q1, 2014-15.
