Weeks after William S Pinckney's arrest, Amway India invests Rs 400 cr, to create 475 jobs
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Direct selling company Amway India Enterprises today said it plans to invest Rs 400 crore in the first phase of new manufacturing facility at Nilakottai in Tamil Nadu.
The company, which held ground-breaking ceremony for its new manufacturing facility today, had acquired 49.4 acres of land in 2012 after signing an MoU with the State Industries Promotion Corporation of Tamil Nadu.
"We are looking to complete the first phase of construction activity by 2014-end to enable a launch of this facility by early 2015, while the later element of the project will be completed by end of 2015," Amway India Managing Director and CEO William S Pinckney said in a release.
"This investment of Rs 400 crore is from internal accruals and a showcase of our continuing commitment to Indian market," he added.
Amway India Enterprises is a wholly-owned subsidiary of US-based Amway Corporation.
The new facility will consist of nine production lines for nutrition, cosmetics and oral care products including four lines for nutrition supplements, two lines for protein supplements, two lines for cosmetics and one line for the Glister toothpaste.
In the first phase, it is expected to generate 475 jobs.
In the nutrition segment, the plant will have a capacity to manufacture 1.2 billion tablets and softgels and 7 million canisters of drink mixes.
In the cosmetics segment, the plant will have a production capacity of 19 million tubes, jars and bottles, and 60 million tubes of Glister toothpaste.
In 2012, Amway clocked a turnover of Rs 2,288 crore, registering a 7 per cent year-on-year growth.