Hyderabad-based Myk Laticrete to up production with three new factories
It already has five factories including one at Rudraram near Hyderabad, said Murali Yadama, Managing Director, Myk Laticrete.
Hyderabad: City-based Myk Laticrete, which is into manufacturing of screed, water proofing, tile adhesives and tile grouts, has drawn up plans to up its production capacity. It wants to set up three factories in Indore, Gujarat and West Bengal. It already has five factories including one at Rudraram near Hyderabad, said Murali Yadama, Managing Director, Myk Laticrete.
The company will invest over Rs.300 crore for these new factories. It has 23 warehouses across the country and about 25,000 channel partners. The company has also established a research and development unit in Hyderabad.
“Our solutions, particularly the tile adhesives and the related, are changing the construction processes. The adoption of these products is growing at a faster pace,” he said. The company employs about 1,000 across locations and has plans to increase by another 500. Of these, about 250 will be in Hyderabad, he said.
It commands about 38 per cent market share in the Indian tile and stone installation product segment. The company, as part of its marketing efforts, announced former Indian cricket captain as its national brand ambassador. The focus will be on educating influencers and end consumers towards the new tile and stone installation solutions, said Murali.
The products include tile adhesives, tile grouts, stone care products and waterproofing. The company’s products have been used in projects such as the Statue of Unity, War Memorial, GMR Shamshabad Airport, Bangalore T2 airport, Hyderabad Metro Rail, Hotel ITC Kohenur, Grand Hyatt Bolgatty, Kochi and others.
The R and D centre evaluates tile and stone installation materials as per ANSI, EN, BS and BIS standards to deliver technical solutions to customers. This also develops products to cater to the global market needs. It has also set up a training centre at Hyderabad. This gives architects, engineers, interior designers, students and dealers first-hand experience on the usage and application of new products developed by Myk Laticrete.
