Vesuvius India to incorporate new subsidiary
News: Vesuvius India’s board has approved the incorporation of a new wholly owned subsidiary (private limited company), to be funded through internal accruals. The investment will involve Rs 57 crore for a new manufacturing facility at Vizag.
View: VIL has completed the acquisition of an industrial freehold land at Vizag to meet future expansion and business needs. Being close to the Vizag port, VIL will be in a better position and can target a higher share of the exports markets. Vesuvius is well placed to capture domestic market share through focus on localised manufacturing and new product launches driving faster growth.