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Laticrete Inc plans joint venture for India foray
Our Bureau
Hyderabad, Dec 13: The $ 100-million ceramic tiles and stones adhesive major, Laticrete International Inc. has proposed to enter the Indian construction market through a joint venture. According to Mr Erno de Bruijn, vice-president, Laticrete International, the company is the pioneer in the manufacture and marketing of materials and methods used in the installation of ceramic tiles and stones. The company has a presence in 65 countries and manufacturing units in 15 countries."We have started test-marketing for the last four months in Hyderabad and Mumbai; the response is quite encouraging", Mr Bruijn told press persons here. The American Multi-national has set up a manufacturing unit at Pashamylaram near Hyderabad to cater to the southern markets and Maharashtra. According to Mr Muralidhar Yadama, managing director of Laticrete India, the joint venture company has set up the ceramic adhesive processing plant with an installed capacity of 29,500 tonne. The company envisages the project to cost Rs 5 crore and the company has so far spent about Rs 2 crore, he added.In phase-I, the company proposes to cover the southern states, including Karnataka, Kerala and Tamil Nadu. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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