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Hanung Toys to set up unit in Uttaranchal
Our Bureau
New Delhi
,
May 15
The Noida-based Hanung Toys and Textiles has announced that it would be setting up a Rs 160-crore textile weaving and processing unit in Uttaranchal.
The unit will have a weaving capacity of 21,000 metres a day and processing capacity of one lakh a day.
The unit, to be spread over 35 acres, will be operational by December.
"We will finance the unit through a mix of debt and IPO, which is expected to come in the first week of June," said Mr A.K. Bansal, Chief Managing Director. The unit will be set up on the Roorkee-Dehradun highway.
The company also plans to increase its soft toys manufacturing capacity at its existing facility in Noida by 25 per cent. Hanung clocked turnover of Rs 150 crore for the last fiscal.
Inspired by the recent animation movie, Hanuman, the company has acquired rights to produce soft toys depicting the legendary character. The company has also acquired rights to produce toys of many Disney characters, said Mr Bansal. These toys would be targeted at the domestic market.
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