Greenply-Samet JV in Hardware Segment Commences Production at Vadodara

person access_time3 23 May 2024

Greenply Industries Ltd had incorporated a 50:50 joint venture company in India in the name of ‘Greenply Samet Pvt. Ltd., for manufacturing and selling functional furniture hardware. The company commenced manufacturing activities and commercial production as per the Phase-I plan on 30th March 2024 in its unit situated at Vadodara, Gujarat. The production at this facility will be ramped-up in three phases spread over next 3 years.

Mr Manoj Tulsyan, JMD of Greenply said, “The Company will be investing Rs 250 cr in the furniture hardware business and the commercial production at first phase has started. Once all phases are completed, this Greenply Industries furniture hardware could be Rs 750-800 cr revenue”

Mr. Tulsyan adds that Industry size for furniture hardware is $2 bn and the EBITDA margin for furniture hardware business can be above 25%. Greenply-SAMET, a collaborative venture between Greenply and SAMET, with a commitment to quality and sustainability, GreenplySAMET is dedicated to creating exceptional furniture accessories that elevate living spaces worldwide.

With manufacturing operations based in Vadodara and headquarters situated in Mumbai, they seamlessly blend the precision of SAMET's production with the strategic reach of Greenply. Their collaborative approach ensures a synergy of skills, resources, and market knowledge, fostering a dynamic environment for continuous innovation. Together, they aspire to set new benchmarks in the furniture accessory industry, driven by a commitment to quality, sustainability, and customer satisfaction.

With ever-expanding expertise, SAMET implements highend technology at its state-of-the-art facilities in Turkey to deliver innovative solutions to the world. Proudly celebrating its 50th anniversary with more than 6,000 product types available to the global market, SAMET’s intuitive production of furniture and cabinet hardware is aligned with today’s European standards.

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