PG Electroplast to expand Ahmednagar facility with Rs 100 cr investment
With this investment, the company aims to expand the facility into an integrated manufacturing campus to increase production capacity of air conditioners and other appliances. The campus will also house new capabilities of sheet metal and powder coating.
Mumbai (Maharashtra), March 19, 2021
PG Electroplast Ltd (PGEL) - a provider of electronic manufacturing services and plastic moulding parts/components to leading consumer durable and automotive plastic companies in India - will invest more than Rs 100 crore in its existing Ahmednagar plant in Maharashtra to increase capacity for manufacturing air conditioners and other appliances. The company has acquired a 10-acre plot adjacent to its existing Ahmednagar plant and aims to expand the facility into a 20-acre integrated manufacturing campus by September-end in 2021, with a total investment of over Rs 100 crores over a period of two years. The expansion in manufacturing unit is likely to generate more than 600 new jobs in and around Supa, Ahmednagar.
Spread across 10-acres, the Ahmednagar Unit is PGEL’s largest campus for manufacturing air conditioners. The planned integration will help the company in building major capacities that will focus on production of best-in-class integrated air conditioner units at one place. The new campus will also house new capabilities of sheet metal and powder coating.
The expansion will give a boost to the existing annual production capacities for both Air Conditioners Indoor Units (IDUs) and Outdoor Units (ODUs) with the capacity for IDUs increasing from 0.6 million units to over 1.5 million units and the capacity for ODUs for 0.6 million units to over 1 million units of Air Conditioner Outdoor Units.
Commenting the acquisition, Vikas Gupta, Executive Director, PG Electroplast Ltd, said, “Over the past few decades, PGEL has steadily moved towards being India’s best electronic manufacturing services provider. With this acquisition, PGEL has initiated its next phase of capital expenditure for the company. In this phase, the company plans to strengthen its foothold in the existing areas of operations and enter new product segments in next couple of years. This planned expansion in Ahmednagar will make PGEL, a one stop destination for providing best-in-class integrated air conditioner units.”
Until a few years back, the company used to mainly be a plastic component supplier for all the leading brands in the Indian consumer durables and automotive industry. Today, PG Electroplast has transformed into a one-stop solution provider for all leading Indian and global brands and has developed end-to-end capabilities to be able to provide complete OEM and ODM products like washing machines, room ACs, air-coolers and LED TVs with top class features like extended durability, effective performance, aesthetic looks, and low power consumption. It has also grown to become one of the largest plastic injection moulding suppliers in the consumer durables and electronics industry in India. The company has 6 manufacturing facilities across India in Greater Noida, Roorkee and Ahmednagar.