Samay Live quoted Hindustan Tin Works as saying while looking to put up its 2nd manufacturing plant and raise private equity investment to part fund that it is not averse to acquisition in a neighboring country.

Mr Sanjay Bhatia MD of Hindustan Tin Works said that "We do not rule out any acquisition in a neighboring country, if it is available. Our export is increasing and to support that, it will be good to have a manufacturing base outside India."

Mr Bhatia said that Dubai, Sri Lanka and Nepal offer good potential but with the advantage of catering to the whole of the UAE, Dubai would be the best market to look out for acquisition among the neighboring nations.

Hindustan Tin Works had recorded INR 244 crore revenue last fiscal and hopes to clock 11% growth in that in the current fiscal. Exports are likely to go up to around INR 50 crore this fiscal as compared to INR 37 crore in 2008 to 2009. The company is looking for a site near ports to put up its 2nd manufacturing plant in India. It has a plant at Murthal in Haryana which has the capacity to manufacture 260 million cans per year.

(Sourced from Samaylive.com)