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Our Bureau

Hyderabad, Nov. 1

Hindustan Sanitaryware and Industries Ltd (HSIL) is all set to enter into faucet making with a greenfield manufacturing unit in Rajasthan.

The diversified group, which is into sanitaryware, home fittings and glass packaging products, is set to invest Rs 80 crore in a new plant, which will be operational in early 2011. The construction will begin shortly, according to the HSIL Managing Director, Mr Sandip Somany.

The faucet unit, which is now the missing link in the product portfolio, will have a capacity to manufacture 1.5 million units a year.

Mr Somany further said that the company is in the process of scouting for acquisitions in the overseas market and expects to close a deal before the end of this financial year. This acquisition, also in the related business and aimed at further consolidation, could range anywhere between €20 million and €50 million (about Rs 120 crore-300 crore).

More Stories on : Strategy | Ceramics | Andhra Pradesh

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