Formica Group establishes HPL manufacturing base in India
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Formica Group establishes HPL manufacturing base in India

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Formica Group establishes HPL manufacturing base in India PR Newswire MUMBAI, India, Nov. 12, 2012 - Acquires assets of decorative laminate manufacturing division of Well Pack MUMBAI, India, Nov.

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Formica Group establishes HPL manufacturing base in India
PR Newswire MUMBAI, India, Nov. 12, 2012
- Acquires assets of decorative laminate manufacturing division of Well Pack
MUMBAI, India,Nov. 12, 2012/PRNewswire/ -- Formica Group, a global leader in the design and manufacture of laminate, is investing in its laminates business in India through the acquisition of business assets of the decorative laminate manufacturing division of Well Pack Papers & Containers Limited, a laminate manufacturer in the State of Gujarat, India. Assets include land, buildings and machinery.
"Formica Group is the largest laminate manufacturer worldwide, and the Formica® Brand is one of the most well recognized in the world," shared Paul Zuckerman, chief executive of Fletcher Building's Laminates & Panels Division. "India represents the world's largest lam inate market and by establishing an HPL manufacturing base in the region and leveraging our global capabilities, we have the opportunity to bring a new level of product technology and customer service to the Indian market."
Zuckerman noted that although the brand first entered the market more than 70 years ago, its re-entry intoIndia in 2010 allowed it to fully realize the scale of the m arket, its projected growth and its heightened demand for building materials. "Formica Group has its eye on growth in India. Acquiring owned manufacturing capacity was a crucial element to enhancing customer service and meeting existing demand, but it's just a first step. We're putting down roots in India; we're here to invest and grow."
The decorative laminate manufacturing division of W ell Pack is a three-year-old, 26,000 SQM HPL facility with two presses and room for expansion. It is located in the West of India, both close to suppliers and with good distribution links to the main markets. The acquisition will not halt plant operations while Formica Group's local Indian management team, as well as leaders from its European business, work with the plant's existing personnel to more fully develop the operation.
Zuckerman added: "Not only are we excited to expand our footprint inIndia, we're eager to expand our capacity to deliver innovative, sustainable and stylish surfacing options to this emerging market."
The transaction is planned for completion at the end of the calendar year.
About Formica Group
Formica Group is a global group of companies consisting of Formica Canada, Inc., Formica Corporation, Formica de Mexico S.A. de C.V., Formica IKI Oy, Formica Lim ited, Formica Laminates (India) Private Limited, Formica S.A., Formica S.A.S., Formica Taiwan Corporation, Formica (Thailand) Co., Ltd., Formica (Asia) Ltd. and Homapal GmbH, among others.
Please Note: Formica®, 1-800-FORMICA™, and the Form ica® Anvil Logo are registered trademarks of The Diller Corporation. ©2012 The Diller Corporation
A Fletcher Building Company
For information, contact:
Simon Wild, Formica Limited
simon.wild@formica.com
Sanjay Badri, Formica India
sanjay.badri@formica.com