Zuari Global’s subsidiary - Indian Furniture Products, Chennai, India (IFPL) and Fabryki Meble FORTE SA, Ostrow Mazowiecka, Poland (FORTE) have signed on January 18, a joint venture agreement for the manufacturing and distribution of furniture for the Indian market. The Joint Venture Company will be named FORTE Furniture Products India. It will start operations on April 1, 2017 by assuming the existing manufacturing facility and the distribution network of Indian Furniture Products.
IFPL will gain access to state-of-the-art product design and manufacturing technology, while FORTE will establish its presence in a market with huge long-term customer potential. FORTE Furniture Products India aims at becoming a leader in ready-to-assemble furniture in India.
Zuari Global, erstwhile Zuari Industries, has been the principal promoter entity for the Zuari Group of Companies, with forays into fertilizer, seeds, engineering, lifestyle industries and services.