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Finolex opens its first depot in North region

In a move to expand its market share, Finolex Industries Ltd, manufacturer of PVC pipes and fittings and PVC resins, announced the launch of its first depot in the North region, at Noida on Thursday.

According to a press release, the company plans to cater to the states in the North as part of a hub-and-spoke model to service the markets of Punjab, Haryana, Delhi, Chandigarh, Uttar Pradesh and Himachal Pradesh.

The release said the company is also focusing on the non-agri business to fuel its growth across the country and capture a 25 per cent market share in the next three years. Finolex will primarily target the construction and infrastructure sectors in order to capitalise on the growth expected in these sectors.

The Noida depot, located at Udyog Vihar is spread over an area of 8,500 sq. ft. and can store upto 100 metrictonnes of PVC fittings. The hub-and-spoke network is expected to act as the springboard for Finolex’s growth and will also help the company increase its number of dealers.

Nitin Kulkarni, President (Sales &Marketing), Finolex Industries Ltd., said, “The opening of the depot is an important milestone in our efforts to increase our market share. The focus on the non –agri business is a strategic move that helps us to have strong order book position right through the year. This is because the agri business gains momentum generally during the pre-monsoon season and the non-agri business gains traction in the post-monsoon phase. Thus there is an order book cycle right through the year”.