Business Daily from THE HINDU group of publications
Friday, Jul 14, 2006
Business Daily from THE HINDU group of publications Friday, Jul 14, 2006 |
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Corporate
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Alliances & Joint Ventures States - Tamil Nadu Autoprint ties up with Spanish company Our Bureau
Printout Autoprint plans to produce 12 machines during the first year and increase it to 24 in the second year Supply to collaborator may be looked into at a later stage.
Coimbatore , July 13 The Coimbatore-based Autoprint Machinery Manufacturers Private Ltd (Autoprint) has teamed up with Mida Maquinaria of Spain in manufacturing narrow web rotary intermittent label printing machines in India.
The companyis also gearing to launch a public issue in the next 12-18 months, Mr C.N. Ashok, Director-Commercial, Autoprint, said on Thursday. Speaking to presspersons at the factory premises at N.S.N. Palayam near here, he said the demand for self-adhesive labels had witnessed a substantial growth in the country due to the growth witnessed by the pharmaceutical, FMCG, food and beverages industries.
He said till now, the label manufacturers catering to these sectors were either importing new or used machines as there were no domestic manufacturers. Autoprint is the first company to manufacture the machine to cater to the label printing industry within five months of inking the collaboration agreement with the Spanish company. Mr Ashok said the new machine was priced Rs 1.2 crore, about 40 per cent lesser than the cost of imported machines. He expected the demand for these machines to be about 200-250 units in the next three years. The company plans to produce 12 machines during the first year and increase it to 24 in the second year. It aims to sell 50 machines per year in the next 3-5 years. He expected the demand to continue to be robust because of the volume growth being witnessed by the label user industries and their need to constantly innovate in packaging to attract the consumers. Mr Ashok said there was a possibility of Autoprint supplying the machine to the foreign collaborator at a later stage. His company has presence in 31 foreign countries and it would explore the possibility of exporting the machines. The company's turnover last year was Rs 50 crore and during the current year, he expected the sales to be around Rs 59 crore. The demand for single colour printing machines was coming down due to change in customer preference and he expected the new product to cushion the impact of any reduction in sales due to that. During the current year, the company has planned a capex of about Rs 10 crore. While 25 per cent of the planned expenditure would be met from internal accruals, the balance would be met through loan.
More Stories on : Alliances & Joint Ventures | Printing | Tamil Nadu
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