Business Daily from THE HINDU group of publications
Thursday, Dec 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Dec 20, 2007 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Corporate
-
Diversification Industry & Economy - Infrastructure Hindustan Latex plans major expansion The company is investing close to Rs 100 crore in a 500-acre Medical Park near Chennai in a vaccine manufacturing facility. Meera Mohanty New Delhi, Dec. 19 Hindustan Latex Ltd (HLL) is investing significantly to expand its portfolio to meet its target of becoming a Rs 1,000 crore company by 2010-2011. The contraceptive maker is expecting revenues of Rs 365 crore this fiscal year ending March 2008, up more than 50 per cent last from last year’s Rs 243 crore, according to its Chairman and Managing Director, Mr M. Ayyappan. Vaccine facilityHLL is investing close to Rs 100 crore in a 500-acre Medical Park in Chengalpattu, near Chennai in a vaccine manufacturing facility and a Rs 40-50 crore in the auto-disable syringes’ unit for which it is in talks with several international manufacturers, said Mr Ayyappan. Joint VentureAccording to industry sources, HLL is also believed to be tying up an equal partnership joint venture with non-profit global venture fund, Acumen Fund, to set up a chain of 30 small (20-25 bed) hospitals for reproductory and child health services under the brand name of LifeSpring. It already operates three such hospitals. However, Mr Ayyappan did not to confirm the move. Apart from contraceptives (condoms account for 55 per cent of its revenues), HLL also manufactures blood bags and is doubling the capacity from a current 5.5 million to 10 million at a cost of Rs 20-26 crore. It has recently launched a pregnancy-test kit under its diagnostics business and is planning to launch malaria, dengue, and HIV testing kits in a few months. More Stories on : Diversification | Infrastructure | Medical & Surgical Equipments
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|