Magazine : 
Greenlam to Venture into Plywood, Particleboard Biz, Invests INR 950 Cr
Greenlam, surfacing solutions brand intends to infuse 
950 crore in the coming two-three years towards setting up the third laminate plant and made a foray into the plywood and particle board business.
In a statement, the company states, the investments in the new laminate plant and particleboard will be done by Greenlam South, a Naidupeta, in Andhra Pradesh-based fully owned subsidiary of Greenlam Industries.
It will invest 600 crore on machinery and 225 crore on the laminate capacity, the company said while sharing the investment details.
It says, "The company will invest in the latest technology, equipment and new-generation machinery to manufacture particleboards with a capacity of 2,31,000 CBM per annum at an investment of 600 crore. The company will set up laminate capacity of 3.5 mn sheets and boards per annum at an investment of 225 crore.”
This state-of-the-art integrated facility will be the first of its kind in the industry, providing holistic surfacing and substrate solutions to its customers.
It further adds, "The dedicated plywood manufacturing facility will come under the newly acquired subsidiary HG Industries Ltd, based at Tindivanam, Tamil Nadu, having a capacity of 1.”
Saurabh Mittal, Managing Director and CEO, Greenlam Industries says, "These greenfield (fresh) manufacturing projects will involve a capital outlay of â¹950 crore over a period of 2-3 years. Our entry into the plywood and particle board business and laminate capacity expansion reinforces our commitment to becoming a one-stop destination for all surfacing and substrate needs."
Meanwhile, Greenlam Industries also informed that its board has approved to split the equity share of the company into 1:5. It will split one equity share of the company having a face value of 5 into five equity shares of the face value of Re.1 each.
"The company in its board meeting approved to split its equity share with a face value of 5 each into five equity shares of a face value of Re 1 each and a consequential alteration of Clause V (Capital Clause) of the Memorandum of Association of the company, subject to the approval of shareholders of the company and such other approvals, if required," it added.
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