MeTecno to open manufacturing unit in TN

CHENNAI: MeTecno (India) Pvt Ltd, the local arm of Italy-based Metecno group, is setting up a unit for manufacturing sandwich panels near here at an investment of $12 million.

The facility at Sriperumbudur would produce sandwich panels for buildings and cold storage industry, MeTecno Chief Operating Officer Anup Dave told reporters.

"Through this facility, we look forward to produce 1.8 million square meter sandwich panels per year in cut lengths ranging from two meters to 15 meters. This translates into a production capacity of 6,000 sq meter per day," he said.

Stating there was a vast use of sandwich panels in India in cold storage industry for walls and ceiling insulation, he said the company was aiming at a market share of 40 to 45 per cent in three years. He said the expected turnover was Rs 750 crore in the next five years.

Dave said the Indian unit, which would be inaugurated tomorrow, would serve the local market initially before looking at other Asian markets. The facility is the sixth in Asia after Vietnam, Thailand, China, Pakistan and Sri Lanka.