Coimbatore-based Peps Industries, manufacturer of spring mattress, will invest Rs. 10 crore to expand its capacity at the plant here and to revamp its Corporate office in Bengaluru.
K. Madhavan, its managing director, told The Hindu on Wednesday that the plant in Coimbatore had the capacity to produce 14,500 mattresses a month and the proposal was to increase it to 18,000.
Manufacturing facilities in Pune and New Delhi catered to the western and northern markets in the country and the capacity expansion here was to supply to new markets.
The Coimbatore facility was located on a 12-acre site and the expansion and modernisation works were in progress, he said. While about Rs. 8 crore would be invested in Coimbatore, Rs. 1.5 crore would be for Bangalore office work. Nearly 60 per cent of the investment was from internal accruals and the rest from financial institutions. It had expanded the capacity here one-and-a-half years ago.
The company was looking at 40 per cent growth in turnover this year from Rs. 163 crore in 2014-15.
“By mid-year, we are planning to get into accessories such as duvets. By 2017-18, we want to be a company that makes the entire range of sleep comfort products,” he said.
The plant in Coimbatore has the capacity to produce 14,500 mattresses a month and the proposal is to increase it to 18,000
