Delhi: With a view to increase its presence and market
share, Today''s Writing Products Ltd (TWPL) announced plans
to double capacity at its pen manufacturing unit at Dadra,
at a cost of Rs37 crore. The company is also actively
looking at acquisitions in Western Europe and America.
the plant has a capacity to manufacture two million pens
per day. Post expansion, this would increase to four million
pieces per day.
company wants to increase its market share in the domestic
pen market. Currently, it has a seven per cent share,
and would like to see it go upto 10 per cent, by leveraging
the increased capacity. The capacity augmentation will
also increase it export shares.
company''s subsidiary, Today''s Petrotech Ltd (TPL) has
tied up with with ITT Corp in an agreement which will
see TPL set up a manufacturing facility along with ITT
in Gujarat, which will see it incur at an initial investment
of Rs30 crore. (See: ITT
Corporation to set up Rs30-crore facility in tie up with
Vadodara facility is being set up for the Fluid Technology
group of ITT Corp, and will be an integral part of ITT''s
plans to enter into the Indian market. TPL will also distribute
all products manufactured and imported by ITT India for
the process industry.