Jaquar acquires Euro Sanitaryware, to invest Rs 310 crore in FY18
Sanitary ware company Jaquar Group on Tuesday said it has acquired Kutch-based Euro Ceramics, including the manufacturing plant facilities and assets for Rs 100 crore, and will invest Rs 310 crore this fiscal on expansions, and setting up a new plant for lighting products.
The Euro Ceramics plant in Bhachau, Kutch is spread over 17 acres and is among the most state-of-the-art facilities in Asia, the Promoter and Director of the company, Rajesh Mehra said here on Tuesday.
"We have taken over the plant of Euro Ceramics in a Rs 100 crore deal. With this, Jaquar Group now has five manufacturing facilities in India and one in South Korea. We have planned to invest Rs 80 to 90 crore on this plant during this year on modernisation and capacity expansion," said Mehra.
This up-gradation would take the current plant production capacity from 1.2 million sanitary ware pieces to 1.8 million pieces, he added. "We make faucets and shower products in Bhiwadi while lighting products are made at our Manesar plant. In this year, we have planned to set up a greenfield plant at Bhiwadi to manufacture lighting products. We would invest around Rs 100 crore. It will become operational in one year," Mehra said.
In addition, the company will be investing around Rs 130 crore for the expansion of the existing faucet plant in Bhiwadi. After this expansion, the capacity of the plant would be over 1 lakh pieces in day.
The company also announced to add an assembly line to manufacture "drivers" for lighting products at their Manesar plant.
"Drivers are the heart for any light. We are in process of setting up our own assembly line for drivers at Manesar. Upon completion next month, that plant will become India's first ever facility to manufacture such drivers" Mehra added.