India, 18 September, 2024: Euro Panel Products Ltd, which owns EUROBOND – one of the leading Aluminium Composite Panel Brands in India, today integrated India’s most advanced coating line in an INR 30 Crore investment. The development aims to strengthen the Make-in-India initiative, with a significant capacity of 750 tons monthly. This cutting-edge coating line is also the country’s longest line and features a three-coat two-bake continuous processing with an accumulator, helping Euro Panel Products Ltd to mitigate dependency on Chinese materials and manufacture 100% Make-in-India products.
The INR 30 Crore investment by Euro Panel Products Ltd includes costs associated with machinery and land; It will also generate 50 immediate jobs, with another 25 in the next 6 months, contributing to local employment and economic growth. This development is aimed at enhancing the supportive ecosystem behind ACP manufacturing and will have a positive impact on the balance sheets for the upcoming fiscal years. This strategic initiative will help EUROBOND to decouple from Chinese supply chain dependencies, where coated coils were imported from China. Going forward, the company will source coils from prominent Indian manufacturers to finish the coating in-house using Indian paint, reducing the time from 2 months to 1-2 weeks — a critical step in ensuring faster service and better quality for customers.
Mr. Rajesh Shah, Managing Director of Euro Panel Products Ltd. shared his insights on the development saying, “Our focus is to facilitate a customer-oriented approach through premium quality and customisable products that contribute to the national economy. We plan to drive this strategy by adopting a comprehensive transition away from Chinese materials and strengthening the Make-in-India initiative. The impact of this development is not only limited to raising efficiency and generating new employment opportunities but also significantly reducing delivery time by over 75%, while maintaining significantly lowered RM holding in our inventories. Integrating this next-gen technology will enable our customers to choose from an infinite range of customization aspects, directly contributing to growth and scalability in future.”
Integrating the coating-line technology will also lead to Euro Panel Products Ltd undertaking in-house R&D efforts that will focus on designs and texture. This will enable the company to offer exclusive and customised designs equipped with specialised coatings and extended warranties on special requirements to its extensive clientele. The firm will focus on sourcing only base coils, to be coated based on requirements and demand. This will enable them to reduce RM inventory, as the requirement of holding coated coils of different colours and grades in stock will be diminished.
This strategic development is far from limited to enhancing employment and efficiency but reducing man-hours, optimising resource utilisation and flexibility in customisation. Furthermore, it will help the company to open up a brand new business avenue of providing coated coils, passively contributing to increased turnover.