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Home arrow News arrow Business News arrow Technocraft Industries commences commercial production in China subsidiary
Technocraft Industries commences commercial production in China subsidiary Print E-mail
Written by Vijay   
Saturday, 17 April 2010
Mumbai: Technocraft Industries (India) Ltd, , has started commercial production in its wholly owned subsidiary factory Anhui Reliable Steel Technology Co., Ltd. (ARST) in Anhui Province in China. ARST has commenced production of scaffolding components from 1st January 2010 and has achieved stable commercial production.

According to Managing Director Mr. S. K. Saraf, the company is expecting substantially improved working results in 2010-2011. the results for the last fiscal year 2009-2010 have also shown substantial improvement and will be released shortly after the Board of Directors’ Meeting to be held in first week of May.

ARST is likely to give substantial support to Technocraft Scaffolding Division by increasing both top line and bottom line. The rated capacity will be achieved in about one month.

Technocraft has signed a joint venture with Canadian form work company, Tabla Construction Systems Inc., who has developed one of the most modern form work systems in the world.

The Tabla JV will substantially expand the base of Technocraft Scaffolding Division, since now the company will be able to offer scaffolding and form work to the clients under one roof. With the present spurt in infrastructure projects, Tabla System is likely to be highly successful. This system of form work is one of the fastest and most economical to erect.

Technocraft has also announced significant growth in Drum Closure sales with a strong order book. The increased sale is due to substantial de-bottlenecking and improvement in efficiency of Drum Closure manufacturing facility.

Technocraft also announced the commissioning of a 15 MW power plant. About 50% capacity will be consumed internally and balance 50% will be sold to MSTCL. The present sale will be done on 22 KV line. Technocraft is also erecting suitable Switch Yard with an investment of about Rs. 10 crores (financed internally) for supplying power to the grid on open access basis on 100 KV line. This will give substantially better sale price. Captive power plant is likely to add approximately Rs. 10 crores to the PAT of the company. Plans are afoot for doubling the capacity of power plant by installing another 15 MW power plant at the same site as an independent power plant for supplying power to the grid. Necessary coal linkage permission has also been received.

Last Updated ( Saturday, 17 April 2010 )
 
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