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Finolex opens new 800-tonne capacity warehouse in Odisha

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Finolex opens new 800-tonne capacity warehouse in Odisha

Finolex opens new 800-tonne capacity warehouse in Odisha
July 20
15:53 2015

By Prabhat Prusty

Bhubaneswar/Puri, July 18:In a move to aggressively expand its market share, Finolex Industries Ltd, India’s leading manufacturer of PVC Pipes & Fittings and PVC Resins, today announced the launch of its first warehouse in the Eastern Region at Cuttack, Orissa.The warehouse is spread over six acres and has the capacity to store 750 to 800 tonnes of pipes and fittings.

The company plans to cater to the states in East India through a hub and spoke model to service the markets of Bihar, Odisha, Chhattisgarh, West Bengal, Assam, Nagaland, Tripura.

Speaking on this, during his visit to Puri for the Nabakalebera festival, Mr. P Chhabria, Executive Chairman, Finolex Industries Ltd. said, “It gives me great pleasure to renew our commitment to the Eastern sector in the country on the auspicious occasion of Nabakalebara. The opening of this warehouse is an important milestone in our efforts to service this market. We already have a strong portfolio of clients in the region and now we will be able to deliver our services faster and in a cost effective manner.”

On the occasion of Nabakalebera, the company which has a strong CSR presence through Mukul Madhav Foundation has set up water kiosks for the devotees and distributed Sunvisor Caps at Puri in an attempt to provide relief to the vast number of people who throng Puri during the festival. In addition to this the company will also give away Gita Govinda Shloka Books to the devotees.

Finolex Industries Ltd which has a strong agri portfolio pan India focuses on the domestic and industrial pipes & fittings’ business in Eastern markets. The domestic and industrialbusiness accounts for over 80 % of the company’s revenues in this region and is expected to grow at a CAGR of 35 % to 40 % in the next three years. The focus on the domestic and industrialbusiness is a strategic move by the company that will helpit to have a strong order book position right through the year. Agri business gains momentum generally during the pre-monsoon season and the domestic and industrialbusiness gains traction in the post monsoon phase.

Buoyed by the presence of the warehouse, the company is now planning to strengthen its dealer network further. It already has about 100 dealers catering to over 3,000 retailers in East. The network is spread over distant places likeTinsukia in Upper Assam/Jeypore in Odisha, Dimapore in Nagaland and Agartala in Tripura.

Finolexalready has a blue chip client roster comprising of clients like Larsen & Toubro, ShapoorjiPallonji,   Sterling & Wilson, Mani Group,  JUSCO  in Jharkhand , Government  Medical Colleges in Bihar/Odisha/West Bengal, J W Marriot Hotel in Kolkata, IQ City in Durgapur, West Bengal, Care Hospital in Bhubaneswar, Odisha and , Tata Mines in Odisha.This is expected to increase now with the enhanced dealer network and the competitive advantage secured in terms of delivery and cost.

 

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