August 26, 2024, Delhi, India: Greenply Industries Ltd., a pioneer in the Indian plywood industry, and Samet, one of the leading global brands in functional furniture hardware have commenced their business operations together as part of their joint venture Greenply-Samet and are set to revolutionize the Indian furniture hardware market. In a press conference in Delhi graced by Mr. Manoj Tulsian, Joint Managing Director and CEO of Greenply Industries, and Mr. M. Serdar Senemoğlu, Executive Board President, Samet, shared their insights and vision for this groundbreaking collaboration.
Greenply Industries and SAMET B.V. marked a significant milestone on 26th October 2023 by forming a Joint Venture Company named “Greenply Samet Private Limited.” This strategic collaboration under the brand Greenply-Samet is poised to bring a new wave of innovation and quality to the industry. The joint venture commenced its manufacturing activities and commercial production as per the Phase-I plan on 30th March 2024 at its state-of-the-art unit in Vadodara, Gujarat. The production capacity at this facility will be strategically ramped up in three phases over the next three years, ensuring a steady increase in output to meet growing market demand. With an investment of around 250 crores, the Vadodara plant is set to become a cornerstone of Greenply-Samet’s operations, blending Greenply’s industry expertise with Samet’s advanced technological capabilities. This joint venture is dedicated to manufacturing and marketing premium furniture hardware, including state-of-the-art slide systems for wooden and metallic drawer systems, hinge systems, lift-up systems, and other innovative products.
This partnership not only aims to cater to the domestic market but also envisions making India a global hub for functional furniture hardware. The synergy between Greenply and Samet is expected to drive significant growth and create new benchmarks in the industry. Through this joint venture, both companies are committed to delivering exceptional value and innovative solutions to their customers, setting the stage for long-term success. Built on the synergy of skills, resources, and market knowledge, Greenply-Samet provides a best-in-class range of furniture hardware products that are functional, aesthetic and tailored for the needs of every living area. The manufacturing operations based in Vadodara and headquarters in Mumbai, the venture seamlessly integrates Samet’s precision in production with Greenply’s strategic market reach, setting new benchmarks in the industry.
Mr. Manoj Tulsian, Joint Managing Director and CEO, Greenply Industries Ltd., spoke of the vision for the venture, “Our strategic partnership with Samet represents a significant leap forward in our journey to deliver unparalleled furniture hardware solutions in India. This venture combines Greenply’s deep understanding of the Indian market with Samet’s world-class technology and innovation. Together, we are poised to redefine the standards of furniture hardware in India, offering products that resonate with the needs of modern consumers.”
Mr. M. Serdar Senemoğlu, Executive Board President, Samet, stated, “This joint venture with Greenply is a testament to our shared vision for growth and excellence in the Indian market. By leveraging Greenply’s strong market presence and Samet’s advanced technological capabilities with 51 years of corporate excellence, we are confident in our ability to deliver innovative, high-quality hardware solutions that will transform the landscape of interior design in India. We will transform our corporate strength that is already approved by Deloitte in 2022 with the best-managed company award to Greenply Samet operation as well. Our collaboration is set to create new benchmarks in the industry, driving both companies to new heights of success.”
Greenply Industries Ltd. stands as one of India’s foremost interior infrastructure companies, with a legacy spanning over three decades. Known for its superior quality plywood, MDF, and allied products, Greenply has continually pushed the envelope in innovation and sustainability. The company recently achieved a significant milestone by obtaining CARB and EPA certifications for its Zero Emission plywood product range, setting a new standard in the industry. Additionally, Greenply inaugurated a state-of-the-art MDF production line in Vadodara, Gujarat, in April 2023, equipped with the latest PRODIǪ NEO technology from Siempelkamp, Germany.
Founded in 1973 in Istanbul, Samet has established itself as one of the global pioneers in the furniture hardware industry. Celebrating its 50th anniversary in 2023, Samet has a rich history of innovation and excellence, offering over 6,000 types of cabinet hardware. The company is renowned for its commitment to European quality standards and its ability to deliver cutting-edge solutions that enhance both the functionality and aesthetic appeal of furniture worldwide.
Samet’s focus on research and development has driven its success, making it a perfect partner for Greenply in this ambitious joint venture.
Headquartered in Mumbai, with manufacturing operations in Vadodara, Greenply Samet India Private Limited combines the precision of Samet’s manufacturing and innovation expertise already registered with patented, value-added products in all furniture accessorize categories with Greenply’s extensive market reach. As one of the top-ten leading brands in that category, we will continue to heavily invest in strategic product groups- developed by the global R&D team of Samet- that will also add value to Greenply Samet cooperation. This partnership is set to address the growing demand in India for high-quality, functional, and aesthetically pleasing furniture hardware, reinforcing the market positions of both Greenply and Samet.
The furniture fittings sector is growing at a faster rate due to increased demand and availability of quality products in India, therefore GREENPLY-SAMET planned its investments according to key product categories throughout the 5-year projection. In addition to existing more than 6000 products in the portfolio, it has prioritized the Master hinge and GS-Class ball-bearing slide system for India production reference to the demand of the market and production has started in the fully integrated production centre in Vadodara as of 2024. The company’s local manufacturing presence and capability will become even stronger with the commissioning of Smart Slide full extension undermount slide systems and Flowbox drawer box systems in the further Phases of Production.
In Phase 3, the production centre will achieve a full–scale volume with the manufacturing of Slide single-extension undermount slides and a Slim-Mech single lift-up door system. In line with these developments, the rapid growth process of Greenply-Samet will be carried to a higher level on a segment and channel basis.