WS Industries in strategic alliance with US based major to set up second plant

摘要

Chennai based WS Industries (India) Ltd. (WSI), has announced plans to set up its second manufacturing plant with an investment of Rs 100 crores, and also a strategic technology and marketing alliance with the US/Europe based global major PPC Insulators. The new plant, with output of 8000 MT per year will be fully operational by April 2008 and expand WSI's current capacity by 60 per cent. This project is being partly funded by equity investments made by Schroder Credit Renaissance Fund, an international investment fund which has taken a 14.9 per cent preferential stake in WSI by investing Rs.21.20 crores, paying Rs.67.30 per share for 3,150,000 Equity Shares. In addition, the company plans to spend Rs.15 crores to further increase the capacity of the Chennai plant from 14000 Mts per year to 16000 Mts per year.