Lixil group to invest US $65 million on new plant Global...

    Lixil group to invest US $65 million on new plant

    Global housing and building industry group Lixil Corporation on Wednesday said it will invest US $65 million in India, AP, for a greenfield manufacturing for ceramics production, to supply both for the domestic market as well as for overseas markets.
    Lixil Group

    This will be a multi-brand facility with production capacity of one million units per year, and is designed to upscale annual production to two million units, the company said in a statement. The statement added that Lixil, which has completed the acquisition of Sentini Sanitarywares, will be renamed Lixil India Sanitaryware.

    Lixil president Kinya Seto said in a statement: “India is a strategic priority market; the move strengthens our ceramics production capacity, enabling exports to key markets such as the US.”

    Lixil India Country Head Shubhajit Sen said with the new investment, the company projects to capture 15-20% share and lead the local ceramics market in the next three years.

    info- economictimes