HNG signs a joint venture with OMCO - world's leading glass mould manufacturers
Hindusthan National Glass & Industries Ltd (HNG), one of the frontrunners in the Indian packaging industry with more than 60% dominant market share in glass packaging and a turnover of Rs 1500 crore, today signed a joint venture with Belgium based OMCO International NV, world's leading glass mould manufacturers. According to the venture, OMCO and HNG will have a 50:50 shareholding pattern and will jointly set up and operate mould manufacturing facilities in India under the name of OMCO HNG Engineering Ltd. for designing, manufacturing, marketing and sales of moulds for glass packaging products like beverages, liquor, food, pharmaceutical and cosmetic use.
Tweet-- Hindusthan National Glass & Industries Ltd (HNG), one of the frontrunners in the Indian packaging industry with more than 60% dominant market share in glass packaging and a turnover of Rs 1500 crore, today signed a joint venture with Belgium based OMCO International NV, world's leading glass mould manufacturers. According to the venture, OMCO and HNG will have a 50:50 shareholding pattern and will jointly set up and operate mould manufacturing facilities in India under the name of OMCO HNG Engineering Ltd. for designing, manufacturing, marketing and sales of moulds for glass packaging products like beverages, liquor, food, pharmaceutical and cosmetic use.
OMCO HNG Engineering Ltd. plans to set up its first plant in Pondicherry with an estimated investment of Rs. 35 crores. The plant will be equipped with state-of-the-art foundry and CNC machines to match global standards. The plant is expected to be operational by September 2010 with an initial capacity of 4000 moulds per month.
Speaking at the occasion Mr. Mukul Somany, Joint Managing Director, HNG said, "The joint venture is a stride by HNG towards becoming the complete glass packaging solutions provider globally by strengthening its backward integration. It is a great opportunity for us to partner with world's leading mould manufacturers for their technical expertise and special designs."
He further added, "Today the Indian glass packaging industry is growing at 7-8% percent annually and poised to grow at 12-15% over the next 10 years. It is riding high on its user industries especially the liquor and beer sector, which is growing at a rate of 12%. With our decades of experience and knowledge of Indian market combined with expertise of our partner OMCO, we are looking forward to many successes as we sign this agreement."
As per the joint venture HNG will be providing civil and technical infrastructure, while OMCO will be sharing its expertise on special designs and technologies which are unavailable in India at present.
Also, present at the occasion, Mr. J C Seynaeve MD & CEO of OMCO said, "The glass container market is thriving in India and we aim to bring specialized designs for the big brands in the country." He further added, "We are extremely excited to form the joint venture with HNG. HNG today is the leader in the Indian glass market through their constant innovation, world class manufacturing technologies and best in class services to the Indian market. By combining our expertise on designs and technology we hope that we will be able to deliver the best in class products in the national as well as international market at competitive prices."
- The joint venture OMCO HNG Engineering Ltd. plans to set up a mould manufacturing plant with an initial investment of Rs. 35 crore at Puducherry
- OMCO HNG Engineering Ltd. is expected to be operational by September 2010 with an initial capacity of 4000 moulds per month
Notes to Editor
About HNG group and HNG
The HNG group, headquartered in Kolkata, was founded by Mr. C.K. Somany - a visionary entrepreneur in 1946. The flagship company of the group, Hindusthan National Glass and Industries Ltd. (HNGIL or HNG) is the largest container glass manufacturers in India with a 60% plus market share and an annual income of more than Rs. 1500 crores. The other companies under the HNG wing are HNG Float Glass Ltd., Glass Equipment (India) Ltd. (GEIL), Somany Foam Ltd (SFL) and AMCL Machinery Ltd.
HNG's pan-India manufacturing operations are spread over six centres Rishra, Bahadurgarh, Rishikesh, Puducherry, Nashik and Neemrana and its products are available in more than 20 countries. The company possesses an operational capacity of 11 furnaces and 44 production lines with fully-automated IS machines, sourced from reputed global technology providers of glass industry from Europe and US.
About OMCO International NV
OMCO International NV, is Belgium based company and is the world leader in glass moulds manufacturing. It has a turnover of Euro 80 million, with 1100 Employees and 30% worldwide market share. OMCO is owned by BMT having a turnover of Euro 250 million and 2700 Employees. OMCO has foundries in Europe with automatic casting lines which are up to the highest technology standards and has special expertise in setting up and operating state of the art foundry facilities for cast raw material. In addition, they have seven manufacturing plants spread across Europe, UK and USA from wherein glass moulds are being supplied to leading container glass manufacturers across the globe.
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