According to a news article in Sourcing Hardware, Greenply Samet, a 50:50 joint venture between Greenply Industries and Samet BV, has commenced manufacturing furniture fittings in India. The partnership combines Greenply’s expertise in plywood and panel products with Samet’s status as Türkiye’s largest furniture fittings manufacturer, launching production in March 2024.
Manoj Tulsian, Joint Managing Director and CEO of Greenply, emphasises the strength of this collaboration: “Both companies share long-term visions for growth and innovation, leveraging each other’s strengths for success.” The joint venture has invested approximately Rs 250 crore to produce premium hardware such as slide systems, hinge systems, and lift-up systems, with plans for phased capacity expansion.
Tulsian projects a turnover of Rs 750 crore in three years, highlighting that the company’s hinges will outperform competitors while remaining price-competitive and BIS-compliant.
The Indian furniture fittings market is poised for significant growth, projected to expand from $17 billion in 2021 to $37 billion by 2026, driven by urbanization, real estate growth, and increased spending power. Greenply Samet is committed to working closely with channel partners, aiming to set new benchmarks in the industry through technological innovation.
In response to government mandates on quality control, the company is aligned with national objectives to elevate India as a competitive manufacturing hub. Tulsian concludes, “We recognise emerging dynamics and are committed to meeting the needs of our customers.”
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