The Hindu Business Line : Italian co MeTecno sets up unit in Chennai unit

Chennai, July 6 MeTecno Group, an Italy-based company manufacturing insulated sandwich panels for the building and construction industry, has set up a manufacturing unit in Chennai.

The company has earmarked about $12 million (about Rs 54 crore) for its Indian operations of which about Rs 37 crore has been spent in setting up the Chennai unit. MeTecno purchased close to eight acres last year in Sriperumbudur and subsequently started the construction work. The manufacturing unit spread across a built up area of 1,320 sq.m was completed recently, said Mr Anup Kumar Dave, MeTecno (India) Pvt Ltd, at a press conference.

The unit will initially produce four types of panels catering to industrial roofing, walls (including partition walls) and cold storage units aggregating about 6,000 sq m a day. About 20 per cent of this production is likely to be exported as MeTecno is in talks with companies in Vietnam and the Gulf for the same, said Mr Dave.

Until now, the products were imported from Italy to India. As it was difficult to transport large sheets of panels, the company decided to set up a unit in Chennai targeting the South Indian industry.

This is the company’s first plant in India and sixth in Asia after Vietnam, China, Thailand, Pakistan and Sri Lanka. But it plans to set up two more manufacturing units, each requiring an additional investment of $10-12 million (Rs 45-54 crore), in the West and North India in the future, according to Mr V. Balakrishnan, Chief Financial Officer, MeTecno Group.

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