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Saturday, Apr 20, 2002

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Travancore Titanium plans to hike capacity

Our Bureau


IN a twin-pronged strategy aimed at consolidating its market presence, Travancore Titanium Products Ltd (TTP), a public sector undertaking under the Kerala Government, has decided to hike capacity by 30 per cent and tone up its product offerings. Speaking to newspersons, Mr V.S. Basheer, Managing Director, said that despite its profit-making record, TTP had realised that it would not be able to stand competition unless it changed its current strategies.

The recent cut in import duty for titanium products, coupled with the dumping of cheap titanium pigments by Chinese companies, had left TTP holding almost 2,000 tonnes of unsold products worth Rs 13 crore. While TTP charges Rs 65,000 plus duties and taxes per tonne for its products, Chinese companies sold their goods for Rs 45,000.

Additionally, Chinese companies supplied goods on credit against the TTP practice of taking advance payments from its customers. This has clearly worked against the prospects of TTP at the marketplace.

"The company has not been able to work out a coherent marketing strategy of its own, since its products have till now been marketed by another agency," Mr Basheer said.

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