The Hindu : Business : MVGL inaugurates printing unit

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Saturday, Oct 13, 2007
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Business

MVGL inaugurates printing unit

P. Rajkrishnan

Involves a total outlay of Rs. 26 crore

CHENNAI: Multivista Global Ltd. (MVGL), a Rs. 62-crore closely held company with interests in printing, leather shoe manufacturing and industrial distribution services, on Friday, inaugurated a printing unit in Kelambakkam, around 35 km from Chennai.

Rajesh Jayaraman, Vice-President (Marketing), MVGL, told this correspondent that the 1.25 lakh sq. ft. facility involved a total outlay of Rs. 26 crore as part of the first phase. In the second phase, which would be completed by December, MVGL would spend Rs. 9-10 crore on machinery. Mr. Jayaraman said the new unit would use state-of-the-art equipment from German companies Kolbus and Heidelberg. The ‘in-line soft cover binding machine’ from Kolbus required an investment of Rs. 6.5 crore, he said. “The unit can produce 30 million books a year,” Mr. Jayaraman said.

The company, which previously had two printing units in Velachery near Chennai, has shifted all its printing operations to the new facility. The printing business contributed Rs. 17 crore to the company’s present turnover, while the distribution business added Rs. 33 crore and shoe manufacturing brought in Rs. 12 crore. “We are aiming at touching Rs. 75-80 crore in the current financial year,” Mr. Jayaraman said, adding that the company was looking at a growth rate of 20-25 per cent over the next five years.

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