Mumbai January 12 2011hng Float Glass Ltd Is Part Of Hng Group Which Is Leader In The Indian Packaging Industry With More Than 55 Market Share In The Organized Container Glass Sector And A Turnover Of Over Rs 15 Billion Today Hng Float Signed An Mou At The Vibrant Gujarat Global Investors39 Summit Vggis 2011 The Memorandum Of Understanding Comprises Hngrsquos Plans Of Undertaking An Investment Worth Rs 750 Crore To Set Up A New Float Line At Its Existing Float Glass Manufacturing Plant At Halol Gujaratthe Hng Group Has Aggressive Plans For Its Float Glass Business The Project Targeted To Be Completed By 2013 2014 Will Generate Employment For Approximately 1000 People The Capacity Of This New Production Line Will Be 1000 Mt Per Day This Is The Second Line Being Set Up At Halol In Addition To An Existing One Producing 600 Mt Per Daythe Group Recently Signed Largest Deals In The Indian Container Glass Industry Worth Rs 25 Billion With Eminent International Companies From Switzerland And Germany These Deals Are Part Of Hngrsquos Strategy To Follow A Very Aggressive Growth Plan Which Would Act As A Catalyst In Doubling Its Existing Capacity In Container Glass In The Next 3035 Months Entailing Investments Of Rs 25 Billion The Company Is Establishing A New Greenfield Plant In Naidupeta Andhra Pradesh Along With An Additional Furnace In Its Facility At Nasikspeaking At The Occasion Mr Mukul Somany Vice Chairman Amp Managing Director Hng Said Ldquowe Are Deeply Focused On The Glass Sector Which Is Buoyant With Downstream Growth In Demands From The Realty Automotive And Packaging Sectors To Help Us Succeed In Our Aggressive Growth Plan This Investment Will Be A Significant One Which Will Help In Boosting The Companyrsquos Developmental Plans In The Float Glass Segmentrdquonbspabout Hng Groupnbspthe Hng Group Headquartered In Kolkata Was Founded By Mr Ck Somany A Visionary Entrepreneur In 1946 Hng Is Indiarsquos Largest Container Glass Manufacturer Enjoying About 55 Market Share Listed On Bse Nse And Cse It Has A Market Capitalization Of Around Rs 2270 Billion And Has Earned Net Sales Of Around Rs 1360 Billion Recorded In Fy 09 Ndash 10 Its Panindia Manufacturing Operations Are Spread Over Six Centres Rishra Bahadurgarh Rishikesh Puducherry Nashik And Neemrana And Its Products Are Available In More Than 20 Countries Nbsphng Has Also Recently Diversified Into Float Glass And Has Been A Turnaround Specialist As It Acquired And Converted Sick Units At Rishikesh And Puducherry Of Obl Nashik Plant Of Lampt And Neemrana Unit Of Haryana Sheet Into Profitable Ones The Company Possesses An Operational Capacity Of 11 Furnaces And 44 Production Lines With Fullyautomated Is Machines