Somany Inks Joint Venture with Keraben to form Somany Keraben Pvt Ltd. (SKPL)

New Delhi, Delhi, India

Somany Ceramics, India's leading tile manufacturer today announced a marketing Joint Venture with Keraben Ltd. of Spain. The New Company to be called Somany Keraben Pvt. Ltd. would launch the exquisitely designed "Synergy Brand" catering to the upwardly mobile Indian consumer. It will leverage Keraben's manufacturing facilities in Spain and other parts of the world, as also the ultra modern facilities of Somany under installation, bringing in the best through Spanish technology, Spanish glazes and designs.

Addressing the press conference Mr. Abhishek Somany, Joint Managing Director, Somany Ceramics Ltd, said "we are one of the most established players in the Indian Tile Industry and understand the consumer taste and industry trend. We have floated Somany-Keraben Pvt. Ltd. which will be a 50:50 equity partnership between Somany and Keraben Ltd to launch this new product. We are investing Rs.50 mn in this JV and are expecting revenues of Rs. 500 mn in the next 2 years."

Commenting on the development, Keraben's CEO, Mr.Rafael Benavent said, "Somany Ceramics is a natural ally for us considering its corporate mentality, dynamic human team, innovative and strong brand presence and a robust distribution network coupled with its investment capacity. The joint venture intends to introduce elegant and innovative designs of tiles, and position tiles as a style statement". The "Synergy" brand is being introduced keeping in mind the evolving and aware Indian consumer who today demands the best.."

The product will be made available through a network of distributors all across India, as also through Somany Fine Line Stores. For a thrust in retail segment the company has devised a "shop in shop" concept where the product shall be displayed at select dealer counters in major towns & cities of India.

The Company is embarking on an extensive marketing campaign to create visibility and awareness of this new product. The product is aimed at the widely traveled connoisseur with a penchant for good things in life and who appreciates elegance with style. Synergy brand will also be exported to other neighboring countries.

About Somany Ceramics Ltd.:

Somany Ceramics Ltd, one of the leading tile manufacture established in 1972 is in the business of manufacturing and marketing of wall, floor and vitrified tiles. It has two production plants in Gujarat & Haryana with the production and marketing capacity of 55,000 sq mt per day. The turnover of the company stood at 300 cr last year.

About Keraben Ceramic Group:

Keraben Ceramic Group is one of the 2nd largest Spanish tile manufacturing groups, established in 1976 with nearly 30 years of experience, is entirely engaged in the business of designs, manufacturing, marketing and supplying ceramic wall and floor tiles, holding innovative technology and Know how. With 7 production plants in Spain, the group has a turnover of approx 200 million euros. The company has 26 retail stores in Spain and subsidiaries in Mexico, Russia, USA, Iran, India, Venezuela.

Source: Somany Ceramics Limited (Business Wire India)

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