France-based building materials maker Saint-Gobain is undertaking a realignment of its gypsum business in the country, giving the Indian subsidiary a new name, as it aims to achieve a turnover of Rs 600 crore (Rs 6 billion) in the domestic market.
"India Gypsum will henceforth be known as Saint-Gobain Gyproc India. This is a part of our new realignment and integration process with the global parent," Saint-Gobain Gyproc India managing director Venkat Subramanian told PTI.
He said the integration will help the Indian gypsum making subsidiary tap the parent's resources and technology to increase foothold in the estimated Rs 500 crore (Rs 5 billion) gypsum market.
"The market for gypsum and gypsum products is growing fast with a boom in construction. Our target is to double our turnover to around Rs 600 crore (Rs 6 billion) by 2012-13, from last year's Rs 300 crore (Rs 3 billion)," Subramanian said.
He said the company is looking to tap the commercial interior construction market with new products like dry walls, besides, continuing to grow in existing segments like plaster boards, ceiling tiles and acoustical solutions.
Saint-Gobain had acquired India Gypsum when it took over British Plasters globally in 2006.
Saint-Gobain Gyproc has four facilities in India with a total capacity of 40 million sq metre of gypsum annually.
"We sold around 20 million sq metre last year and our target is to increase sales to 35 million sq metre in next 2-3 years. The plastic board and acoustical solutions market is still under-penetrated and we see good opportunities in it," Subramanian said.
He said Saint-Gobain Gyproc will constantly increase the capacity utilisation of its plants as demand and sales increase.
"With 40 million sq metre of total annual capacity, we have enough unused capacity to deal with the rise in demand," Subramanian added.
The Paris-headquartered Euro44 billion Saint-Gobain has eight companies in India operating in three segments- construction products, high performance materials and flat glass.
