India's multifaceted HNG Group sets up its first float glass line at Halol in Gujarat.

The Kolkatta-based Rs 1,500-crore glass manufacturer HNG group has forayed into the float glass segment under the aegis of its business arm HNG FLOAT GLASS LTD with its state-of-the-art plant at Halol in Gujarat in Western India . On 30th Nov.'09, the ribbon-cutting & plant's furnace heat-up ceremony was celebrated auspiciously in the presence of an august gathering of key invitees and the company's promoters-cum-directors.

“The HNG group is on a high growth path through strategic diversifications. Our foray into the float glass segment is to further expand our horizons in the glass industry,” said HNG joint managing director Mukul Somany.

“The first set of production is expected to be ready by the end of December 2009,” Somany added.Starting with an initial 600 TPD installed capacity, HNG aims to capture up a slice of 25 percent share of the float glass market in the next two years.

The company also has provision for a second float glass line at its plant, which will produce an additional 850 TPD, the statement said. HNG already relishes over 60 percent market share in the container glass business, it claimed.

“There is a huge market for float glass in the country resulting from the growing realty and auto sectors,” Somany said. “Also, the extremely low per capita consumption of only 0.7 kg in India as compared to average of 8-10 kg in other developing economies is a tremendous potential for growth of this industry.” HNG Float has tied up with TECO,USA for designing, engineering, installation and commissioning of the Halol plant.

Submitted via email by Anuj Somany