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Saturday, March 04, 2006

JHS Svendgaard plans IPO to fund project

Oral care products manufacturer JHS Svendgaard Laboratories is setting up a manufacturing facility at Kalamb, Himachal Pradesh, at an investment of Rs 50 crore, reports The Hindu Business Line.

The first phase of the project would be implemented by May this year and the second phase would be ready by January 2007, according to Nikhil Nanda, Managing Director of the company.

After the proposed manufacturing facility in Himachal Pradesh goes on stream, the company's annual toothbrush manufacturing capacity would go up to 125 million pieces from 40 million pieces.

The company is planning an initial public offering to fund its Himachal Pradesh project.

Addressing a news conference yesterday, Nanda said that in the last 10 years, JHS had established a firm foothold in the domestic and international markets. The company's list of customers includes several Fortune 500 companies and the country's top FMCG companies for their private label brands.

The company has been awarded the top exporter award for toothbrushes and dental plates by PLEX Council of India, Union Ministry of Commerce.

Oral care products manufactured by the company are exported to the US, UK, France and West Asia, among other geographies. Around 50% of the company's turnover is accounted for by exports.

In addition to toothbrushes and other oral care products, JHS Svendgaard has developed products such as teeth whitening gel, anchorless toothbrush, effervescent tablet and a whitening and anti-plaque mouth rinse.

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