~ New facility for engineering plastics for battery components
~ Will see an investment of Rs 200 crores and creating 500 new jobs
Chittoor, June 22nd, 2016: Mangal Industries, a group company of Amara Raja Group, today inaugurated a new facility for Engineering plastics at the ‘Amara Raja Growth Corridor’ (ARGC), a 500-acre industrial park. Honorable Chairman of Amara Raja Group, Sri Dr Ramachandra N Galla inaugurated the new facility, which is the fourth manufacturing unit to have come up in the ARGC in the past three years. Foundation stone for Plastic molding facility was laid by the Honorable Chief Minister of Andhra Pradesh, Mr. N. Chandrababu Naidu in May 2015.
Mangal Industries Ltd (MIL) is one of the major companies of Amara Raja Group and has five business verticals – Sheet metal industrial enclosures, automotive fasteners, Engineering plastics, Storage solutions and Food pulp and Beverages. MIL saw a business turnover of Rs 550 Cr in FY16 with six manufacturing plants at three locations in Chittoor. This is 7th Manufacturing plant at 4th location in Chittoor district.
Speaker at the occasion, Sri Dr Ramachandra N Galla, Chairman, Amara Raja Group said,