Greenply Eyes Significant Growth with New JV and Strategic Expansion

Greenply, a leading plywood and laminates maker, anticipates a turnover of Rs 450-500 crore in the next 4-5 years from its joint venture with Turkey-based Samet. The company plans to expand its operations, invest in new factories, and grow its product portfolio. Greenply sees notable growth in both its plywood and MDF businesses.

Greenply, a top plywood and laminates manufacturer, expects a substantial turnover of Rs 450-500 crore within the next 4-5 years from its joint venture with the Turkish company Samet, a senior company official disclosed on Friday.

Joint Managing Director and CEO Manoj Tulsian revealed that Greenply anticipates 8-10 per cent volume growth in its core plywood business and an impressive 50-60 per cent surge in its medium-density fiberboard (MDF) segment for the current fiscal year.

The company intends to establish another plywood factory, involving an investment of approximately Rs 125 crore, and expand its product range through brand extensions. The Greenply-Samet JV has already initiated manufacturing at its Vadodara plant in Gujarat, targeting both the domestic market and export opportunities.

(With inputs from agencies.)