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Sezal Glass Ltd, leading player in the architectural glass business, has said it would invest about Rs 500 crore to expand its value-added glass business with manufacturing set ups across India.
The BSE and NSE-listed company, which has a processing facility in the Union Territory of Dadra and Nagar Haveli, said in a statement here that the product profile following this investment will include manufacture of high quality, value-added glass products such as security glass, safety glass, fire resistant glass, acid patterned glass, bullet proof glass and manufacturing of other glass products- patterned and solar glass.
Sezal Glass Ltd had recently sold its float glass business to Saint-Gobain Glass India Ltd, a 100 per cent subsidiary of France-based Compagnie de Saint Gobain, on slump sale basis for a consideration of Rs 686 crore, Mr Amrut S. Gada, Chairman and Managing Director, Sezal Glass Ltd, said.
Taking into consideration aspects such as climate, safety and aesthetics the demand for high quality, value-added glass is rapidly increasing in India. The market size of value-added glass business is about Rs 2,000 crore per annum and increasing at the rate of 30 per cent a year.
“With this expansion plan under way, we will have a 15 per cent market share of the value-added glass business in the next three to five years," he added.
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