Euro Panel Products Ltd, the owner of EUROBOND – one of India's leading Aluminium Composite Panel (ACP) brands, has integrated the country's most advanced coating line with an investment of INR 30 crore. This strategic development aims to bolster the Make-in-India initiative, with the new line boasting a significant capacity of 750 tonnes per month. As the longest coating line in the country, it features a three-coat, two-bake continuous process with an accumulator, allowing Euro Panel Products Ltd to reduce dependency on Chinese imports and manufacture fully indigenous products.
The INR 30 crore investment covers the costs associated with machinery and land. The development will create 50 immediate jobs, with an additional 25 positions expected to be added in the next six months, contributing to local employment and economic growth. This move aims to strengthen the ecosystem supporting ACP manufacturing and is projected to positively impact the company's balance sheets in the upcoming fiscal years. By this initiative, EUROBOND aims to eliminate its reliance on imported coated coils from China, opting instead to source coils from prominent Indian manufacturers and complete the coating process in-house using Indian paint. This will reduce lead times from two months to just 1-2 weeks, enhancing both service speed and product quality for customers.
Mr Rajesh Shah, Managing Director of Euro Panel Products Ltd, commented, "Our goal is to adopt a customer-centric approach by delivering premium quality and customisable products while contributing to the national economy. Through this strategic shift away from Chinese materials, we aim to strengthen the Make-in-India initiative. This development will not only raise efficiency and generate new employment opportunities but also reduce delivery times by over 75%, while significantly lowering raw material inventory holdings. By integrating this next-generation technology, we enable our customers to choose from an extensive range of customisation options, driving growth and scalability in the future."
With the integration of the new coating-line technology, Euro Panel Products Ltd will also embark on in-house research and development efforts, focusing on innovative designs and textures. This will enable the company to offer exclusive, customised products with specialised coatings and extended warranties to meet the specific requirements of its diverse clientele. The firm plans to source only base coils, applying coatings based on demand. This strategy will help reduce raw material inventory, eliminating the need to stock pre-coated coils in various colours and grades.
This development goes beyond job creation and efficiency improvements, reducing man-hours, optimising resource utilisation, and enhancing flexibility in customisation. Additionally, it opens up a new business avenue for the company by allowing it to provide coated coils, contributing to increased turnover.
