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| Exchange Disseminated Time | Superhouse Ltd has informed BSE that the Company is expanding its production capacity in footwear division with an investment plan of Rs 500 million spread over the next one year. The increased capacity will cater to demand arising in US markets.
The Company presently manufactures approximately 10,000 pairs of fashion and safety footwear per day and this existing capacity will be raised by 50% to 15,000 pairs/day by the end of the year. This will make the Company the only Indian Company to manufacture and export more than 50 lakh pairs of shoes in a year.
To achieve this capacity, the Company is setting up two additional footwear units in Agra and Kanpur for which land has already been acquired in the two cities. The Company already has 5 units operational in Kanpur and Unnao.
In order to meet the demand for raw material, the Company will also setup a new tannery at Unnao offering additional one lakh sq feet of leather per month. This will be in addition to the existing 2 lakh sq ft of leather manufactured in the tanneries at Kanpur.
The entire process of increasing manufacturing will be in line with meeting the environmental concerns and also bring about employment for an additional 800 strong workforce.
Speaking on the occasion Mr. Mukhtarul Amin, CMD, of the Company Said, "Export in Leather accessories has been our strength and Seeing potential in emerging markets has led to expansion of our production capabilities." Adding to the same he also said, "The expansion will cater to markets in US, where the demand is Surging high for fashion and safety shoes."
The company's expansion plans will be funded by internal accruals and loans from financial Institutions.
The Company has been supplying footwear range to a number or noted retailers of the world including Carrefour, Europe and Metro MGB Group, the world's 2nd and 3rd largest retails chains. It has also forayed into Germany, Holland, South Africa and Australian markets with its safety shoes. |
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