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Hindusthan National Glass targets 10 per cent growth

Post Time:Aug 21,2009Classify:Industry NewsView:315

 

 

Hindusthan National Glass and Industries (HNGIL) plans to record about 15 per cent growth rate in sales in 2009-10. 

HNGIL Joint Managing Director Mukul Somany said here today that after registering net sales of Rs 1,311 crore in 2009 braving recession, the company plans to cross the Rs 1,500-crore milestone this year.     

On plans to invest Rs 350 crore in brownfield expansion and technology upgrade, Somany said the company would introduce techlologies like narrow neck press and blow for the first time in the country at an investment of Rs 100 crore.      

"With its commercialisation, the company will offer 15-20 per cent lighter containers reducing transport cost and price per bottle, improve quality and transparency."     

Somany said the vision was to become one of the foremost providers of glass container solutions globally.      

"We plan to achieve long-term growth and sustainable development by increasing operational concepts such as light- weighing to Indian glass packaging industry."      

The company has units in Rishra in West Bengal, Nasik, Bahadurgarh, Hrisikesh, Nimrana and Puducherry.     

HNGIL products are exported to the Far East, Middle-East, Africa, the US and the European nations.

Source: business-standard.comAuthor: shangyi

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