MYK Laticrete, the joint venture company of the US-based Laticrete International and MYK Group of Hyderabad, is set to commission another manufacturing unit in the country, its third, by the end of this year, complimenting its existing units in Andhra Pradesh and Rajasthan.

The joint venture company, which is engaged in manufacture and supply of products for building requirements, including adhesives, is part of the diversified MYK group, which is into cement, industrial fans, and construction chemicals.

“The two existing plants at Patancheru near Hyderabad and another one near Jaipur are functioning to their capacity of about 4,000 tonnes month each. We are in the process of setting up another plant in Tamil Nadu at Parundurai near Coimbatore by the end of this year,” Mr Amarbir Palta, Vice-President, MYK Laticrete, said.

Forecast

Speaking to Business Line , Mr Palta said that the joint venture between Laticrete and MYK Group is 50:50. The market for such products in the country is about 20,000 tonnes per month. “We believe there is further growth potential for the products and the third plant, to be set up with an outlay of Rs 20 crore will augment this requirement,” he said.

“We currently operate through 21 regional offices and are present across 1,000-plus dealers. We expect to close this year with revenues of about Rs 100 crore,” he said.

“The company supplies adhesives, wall putty and grouting products known for high-strength and weather resistance. In India, while nearly 90 per cent of tile work is handled through cement and its derivatives, the rest use adhesives. We believe that the market for adhesives is poised for growth,” he said.

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