By IANS,
Shimla : Amway India Enterprises will invest Rs.55 crore (Rs.550 million) to treble capacity at its Himachal Pradesh manufacturing unit by the end of this year, a senior company official said here Friday.
“We have plans to treble the capacity of our Baddi manufacturing plant by December-end,” Amway India Managing Director and Chief Executive Officer William S. Pinckney told IANS.
“We are adding four new product lines to the existing five lines at Sarvotham Care’s plant (at Baddi). This will involve an outlay of around Rs.55 crore,” he said.
Amway India Enterprises, a wholly owned subsidiary of US-based Amway Corporation, had invested Rs.50 crore in 2004-05 in the Baddi plant which is manufacturing around 85 percent of Amway products sold in the country.
He said with the completion of the expansion plans, the Baddi unit will start manufacturing nutrition, wellness and cosmetics products.
Pinckney also downplayed the impact of recession in the country, saying: “We grew by 40 percent in recession-hit 2008 touching Rs.1,128 crore from Rs.800 crore in 2007. We expect to touch sales of Rs.2,500 crore by 2012.”