Duroflex to invest � 100 cr. on expansion

 thehindu.com  10/12/2019 19:23:50 

Mattress maker Duroflex is readying a 100-crore expansion plan under which it will expand the Hyderabad plant as well as add more manufacturing capacities in the western region.

The investment will help increase the manufacturing capacity of the company from the existing six lakh mattresses to 10 lakh, in phases, over the next few years, Managing Director Mathew Chandy said here on Thursday. Duroflex has six manufacturing facilities  three in Hosur and one each in Hyderabad, Alleppey and Bhiwandi (Maharashtra).

In a media interaction, at the launch of Duropedic orthopaedic mattress, he said the expansion comes in the backdrop of plants being operated at near full capacity. The 500-crore-in-revenues company grew by 30% last year and expects to clock over 20% growth this fiscal, he added.

Elaborating on the plans, he said the Medchal unit, near here, had a capacity to make 500 mattresses a day, employed about 100 people and catered to the markets in the Telugu States and parts of Maharashtra and Odisha.

On the western region, Mr. Chandy said Duroflex was evaluating options of expanding the Bhiwandi plant or setting up a new unit either in Maharashtra or Gujarat. It was looking for collaborations too. The company, which last year had raised 100 crore PE investment from Lighthouse, was well funded and not looking to raise more funds.

A press release on the launch of Duropedic, by actor Varun Tej Konidela, said back pain is an increasingly common lifestyle problem with known reasons like faulty sitting postures, lack of exercise and everyday stress. The mattress design is based on a first-of-its-kind 5-Zoned Full Prone Support System, a technology that provides advanced support that the back needs.

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