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| We are often asked by people in India and across the globe: what binds Sintex together and
propels it forward? |
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| NEWS |
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| Mumbai, March 26, 2010: Dun & Bradstreet (D&B), the world's leading provider of global business information, knowledge and insight, announced the Dun & Bradstreet - Rolta Corporate Awards 2008. The awards felicitated 53 of India's leading corporate names across sectors.
Sintex was honored with the Dun & Bradstreet - Rolta Corporate Awards 2009 in the Plastic and Plastic Products sector. This is the second consecutive year that Sintex received this coveted trophy.
The D&B-Rolta Corporate Awards 2009, closely tied to D&B's study on India's Top 500 Companies 2009, seek to recognize the twin virtues of size and growth in corporate India.
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| About Dun & Bradstreet - Rolta Corporate Awards 2009
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| The 'Dun & Bradstreet - Rolta Corporate Awards 2009' seeks to recognize and felicitate corporate India's leading companies from various sectors. The Awards event is closely tied to the publication, India's Top 500 Companies 2009. Therefore, the base universe of the companies considered for the Dun & Bradstreet - Rolta Corporate Awards 2009 comprised of the top 500 companies of India as covered under the publication.
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| Mumbai: Sintex Industries, a Gujarat-based company involved in building products, custom mouldings and textiles, has cut its capital expenditure for 2009-10 by around 35% due to the slowdown, said Amit Patel, managing director.
The company would be spending around Rs 325 crore next fiscal, down from its earlier target of Rs 500 crore. It spent Rs 370 crore in the fiscal ended March 31, 2009.
"We will be spending nearly Rs 150 crore in India to substantially increase the capacity in our prefabricated building segment," said Patel. Prefabricated, or prefab buildings, are those that consist of several factory-built components that are assembled on-site. Out of Sintex's 35 plants in India, five manufacture prefab buildings. The company plans to add another plant in Uttar Pradesh by 2010.
Patel said that Sintex would also spend around Rs 75 crore on Nief Plastic SA, a fully-owned French subsidiary, and Rs 50 crore each on Zeppelin Mobile Systems India and Bright AutoPlast India.
Sintex has seen demand from client industries such as automobiles, electricals, textiles and telecom sluggish in the past few months. However, it is betting big on its building products division, given the fall in material prices and consistent order inflow. To ride the slowdown, Sintex is planning to export semi-finished engineering, electrical and medical equipment to its overseas subsidiaries. "Starting December, we plan to export equipment worth nearly Rs 100 crore for the next couple of years." Sintex is best known for its water tanks. However, the company's focus on this business has been dwindling over the years.
"Though the water tank business is small, we don't intend to get out of it because it is the only area where Sintex binds directly with consumers," said Patel. He added that Sintex could use the water tanks' distribution network for its building products.
On foreign subsidiaries, Patel said the company is not looking at any further significant job cuts in them in the near future. The firm had cut 500 jobs at its American subsidiary, Wausaukee Composites Inc, in December and shut one of its four plants. |
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| Bright AutoPlast signs off Technical Assistance Agreement between BAPL & Daeji Metal Co Ltd (DMCL), Korea on the 10th February, 09. This technology transfer tie up for BAPL, herald’s a shift from conventional aesthetic part supplies to a critically functional system supplier. BAPL will manufacture and supply AIR INDUCTION SYSTEMS (AIS) for small cars, to begin with. BAPL has been mandated by General Motors India for supply of AIS for their prestigious “Global Mini Programme”. BAPL will look at replicating this business model across locations with varied OEM’s. |
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| Zeppelin Mobile System India recently added to its plant at Noida, state of art 13m x1.5 m four day light press with high pressure foam injection machine sourced from “KRAUSS MAFFEI” , GERMANY ,comparable to the best technology in the world. The combination is capable of making single, insulated PUF panels up to 250 mm thickness for Cold Management Systems such as Refer Vans, Cold Rooms, Cold Stores, Clean Room applications, mobile hospitals & PUF panels for Telecom shelters |
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CEPT University, Ahmedabad is considered as the leader in architecture, building science & technology, town planning and interior decoration. Sintex has been continuously working on several green products and solutions. Sintex has now teamed up with CEPT University and created chair for sustainable/green building materials and technologies, which will be essentially working on:
- Waste utilization
- Energy audit and management
- Energy conservation in design and maintenance, particularly the emerging area of
green buildings and sustainable design
- Environment planning and management
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| Super stardom does not come easy. And neither is it easy to enter the elite dub of country’s superbrands where household brand names rub shoulders. For a name that was once synonymous with water tank known to adorn rooftops, Sintex has gone much beyond. The name is now a superbrand, as per the second
Business Superbrands series issued by the Superbrands Council of India. |
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