The facility has a production capacity of 30 m books a year
To use German technologyFormal inauguration on October 12
CHENNAI: Multivista Global Ltd. (MVGL), which is into printing, leather shoe manufacturing and providing industrial distribution services, has established a printing unit in Kelambakkam, around 35 km from Chennai.
Announcing this at a press conference here on Wednesday, R. S. Mani, Chairman and Managing Director, MVGL, said the 1.25 lakh sq. ft. facility had a production capacity of over 30 million books a year. The company had invested around Rs. 26 crore as part of the first phase and would spend Rs. 9-10 crore in the second phase, which would be completed by December.
“The new unit will use state-of-the-art technology from German companies Heidelberg and Kolbus,” Mr. Mani said.
It would be formally inaugurated on October 12, he added.
Saying that MVGL primarily focused on the education industry, he pointed out that the company’s clients included Oxford University Press, Cambridge University Press, U.K.-based Pearson Education and Nelson Thornes of the U.S. “We print and facilitate the distribution of our clients’ books not only in the Indian market but also in Africa, Australia, the U.S and the U.K, apart from other countries in Asia,” he said.
The company, which posted a turnover of Rs. 62 crore for the fiscal ended March 31, 2007, aimed at touching Rs. 75-80 crore in the current financial year, Mr. Mani said.
“MVGL registered a profit of seven per cent last year. The debt:equity ratio now is 2:1. We will consider going public only when the time is right,” he said, adding that for now, the company would consider feasible joint venture tie-ups and explore new markets for its clients in all three business units.
“We are thinking of diversifying into plastic food packaging,” he said.