Tags: Mumbai

Mumbai, Oct 11 Looking to put up its second manufacturing plant and raise private equity investment to part-fund, metal container manufacturer Hindustan Tin Works today said that it is not averse to acquisition in a neighbouring country.

"We do not rule out any acquisition in a neighbouring country, if it is available. Our export is increasing and to support that, it will be good to have a manufacturing base outside India," company Managing Director Sanjay Bhatia told PTI here.

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

Hindustan Tin Works had recorded Rs 244 crore revenue last fiscal and hopes to clock 11 per cent growth in that in the current fiscal. Exports are likely to go up to around Rs 50 crore this fiscal as compared to Rs 37 crore in 2008-09.

The company is looking for a site near ports to put up its second manufacturing plant in India. It has a plant at Murthal in Haryana which has the capacity to manufacture 260 million cans a year. .

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