Dagger Forst Tools in expansion mode
PM News Bureau
Dagger Forst Tools Ltd, which is currently engaged in manufacturing highly specialised cutting tools, is expanding the capacity of its existing products by setting up a new plant at Gandhidham, Gujarat. The new plant will have a capacity to manufacture 1,030 broaches, 1,385 hobs and 1,440 shaving cutters. The company will spend Rs 20.79 crore on this project. Construction work is already under way. Rachna Engineers, Gandhidham, has been appointed as the architect for the building construction. The project is expected to be completed by this year-end.
The company is also establishing a new plant at Dehradun to manufacture parallel shank and taper shank twist drills. The cost of this project is estimated at Rs 20.33 crore. The company is in the process of acquiring land for the project. Civil work is due to start in November. The entire project is scheduled for commissioning in August 2006.
Dagger Forst Tools proposes to fund both the projects through an IPO, a rights issue, internal accruals and borrowings of Rs 15 crore from banks.
Contact: Dagger Forst Tools Ltd, 1st Floor, Dalamal House, Nariman Point, Mumbai 400021. Tel: 022-22821173/74; Fax: 022-22047835
[5 September 2005]