New 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.

Presently, the plant has a capacity to manufacture two million pens per day. Post expansion, this would increase to four million pieces per day.

The 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.

The 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 Today''s Petrotech)

The 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.