Austrian firm to construct $37 Mn brick plant in Bangalore
Friday, 09 November 2007, 20:30 IST
Printer Print Email Email
Vienna: The Austrian brick maker Wienerberger Thursday announced plans to invest more than 26 million euros ($37.7 million) in the construction of a plant for producing hollow blocks north-west of Bangalore, the capital of Karnataka. The new plant will have an initial capacity for producing 60 million units with plans for doubling the capacity later, the company said. With this, Wienerberger has "set an important strategic milestone in its Asian expansion" the company said in a press release. India was a highly promising market for building materials and will create opportunities for further profitable growth, as demand for housing was growing steadily, the company believed. Wienerberger's mid-term goal was to establish a relevant market position in southern India, Wienerberger's Heimo Scheuch, responsible for the Asian market said. Wienerberger, listed on Vienna's stock exchange, is the world's leading producer of bricks and number two in clay roof tiles in Europe.
Source: IANS
siliconindia