Jaquar Group acquires Euro sanitaryware manufacturing plant for Rs 100 crore

Jaquar Group acquires Euro sanitaryware manufacturing plant for Rs 100 crore

Bathroom solutions company Jaquar Group has acquired the manufacturing plant including facilities and assets of Kutch-based Euro Ceramics for Rs 100 crore.
 
The Euro Ceramics plant in Bhachau, Kutch is spread over 17 acres and is one of Asia's most modern sanitaryware manufacturing facilities. This strategic deal takes Jaquar Group's manufacturing to over 2.48 lakh square metres, spread over 5 plants in India & 1 plant in South Korea. Jaquar Group plans to further invest over Rs 75-80 crore into the plant, within next one year, as part of modernisation and upgradation in process, technology and machining of the plant.

This upgradation will take current plant production capacity from 1.2 million sanitaryware pieces to 1.8 million pieces in FY 2017-18. This plant will be manufacturing a new range of designer sanitaryware products in partnership with design firms like Danelon Meroni - London and Foley Design – Bangalore. The trained workforce of over 400 currently employed at the plant have been seamlessly integrated into the Jaquar Group family, the company said.
 
"With the takeover of Euro Ceramics manufacturing plant, it will give us a leadership position strengthening our proposition of a complete bathroom solutions provider. This move is significant as it reiterates the group's vision of manufacturing world class products in India for the world. It will further help us achieve a turnover of Rs 3500 crores by FY 2017-18," Jaquar group promoter and director Rajesh Mehra said.

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