B D Narayankar
Press Trust of India
Bangalore, Oct 3: Spring Air, a leading manufacturer
of bedding products in the world, today launched its second
factory in the country at Betta Hosapura near Kolar.
"Since we were facing transportation and delivery problems,
we decided to set up a plant near Kolar," company Director
Ashok Sharma told reporters here.
The company, which already has a plant in Noida, had
earlier planned to set up its plant in Mumbai, but decided for
Betta Hosapura as Spring Air products received overwhelming
response in South India, Sharma said.
The unit has all the latest technology and manpower to
ensure the higest international standards for matress, Sharma
said adding the company planned to hire 100 people for it.
He said Spring Air targeted middle and premium segments.
"We don't have any intention to foray into lower segments of
the market even in future," Sharma said.
As against Rs 16 crore business this year, the company
plans to achieve a target of Rs 100 crore turnover in the next
three years, he said. "This will make us a market leader in
middle and premium segments of the market."
"We have done a business of Rs 16 crore from our Noida
plant this year. In our first year of operations, we have done
a business of Rs 7 crore," he said.
On expansion plans, he said the company aimed at setting
up four plants in Mumbai and Kolkata by 2013 end with an
approximate investment of Rs 60 crore and open 200 exclusive
showrooms for its products.
In next seven years, the company aims to go public
with over 1000 dealers, Abhishek Sharma, another Director of
the company, said.
Spring Air Bedding Company is jointly promoted by
Oman-based W J Towell and Ashok Sharma, an experienced bedding
industry professional in Middle East and India.
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