Haworth, a 2.57 billion US dollar company, offering premium global workspace solutions, marks a significant milestone with the groundbreaking of its second state-of-the-art factory in Chennai, India. The company’s expansion underscores its commitment to the Indian market and the broader Asia-Pacific region. With an investment of $8 - $10 million Haworth is set to double the space of its current plant, totalling an impressive 113,000 sq. ft.
The second state-of-the-art factory signifies Haworth's dedication to enhancing its manufacturing capabilities and commitment to meeting the growing customer demands for innovative workspace solutions. The new factory will serve as a hub for producing some of the key Haworth products reducing reliance on imports, fulfilling export demands and optimizing delivery schedules.
Haworth’s outlook continues to remain robust, with strong profitability driven by a diverse product line. The company has strategically focused on premium seating, while capitalising on emerging opportunities in systems and pods. Haworth also further exploring new markets in emerging Tier II cities and has recently onboarded new dealers in Delhi NCR, Ahmedabad and Pune. Haworth continues to bag orders from multinational clients, further reinforcing its position as a preferred workspace solutions provider.
Franco Bianchi, President & CEO, Haworth Inc., said, "Haworth continues its growth streak with $2.57 billion in global sales last year, a 3% increase. We have been in India since 1997 and have played an integral part in the development of high-grade office furniture. With the expansion of Grade A spaces across India, we are expecting double-digit sales growth this year in the region. With continuing focus on traditional MNC businesses, we expect to increase our business in Indian national business and emerging markets. Localization of key products in India, supply chain optimization, implementation of a new ERP system, onboarding new dealers, market expansion and investment in new showrooms are our strategic imperatives.”
“Our primary focus has been to provide ergonomic furniture for emerging metropolitan spaces including Banking, IT, Manufacturing, Managed Spaces, Global Capability Centers, Educational and Financial Services. We set up our first owned manufacturing plant in Chennai during 2014. Since then, Haworth has expanded our range of products produced in India to include the premium segment thereby reducing the dependency on imports and improving delivery timelines. This second plant will not only take care of our local requirements but potentially manufacture products for exports. Plans are underway to expand the manufacturing footprint by investment in both logistics and manufacturing at the new facility in Chennai," said Henning Figge, President of Haworth International.
Haworth goes beyond being just a workplace furniture manufacturer – the company is actively looking to partner with clients and discover the most optimal workplace solutions tailored to their specific needs. The workplace is not a one size fits all environment. Haworth has a high level of customisation and a dedicated workplace advisory team for ideation, equipped with the expertise to understand clients' unique requirements and assist in orchestrating a workplace transformation journey. Haworth products showcase the company's focus on design thinking and consistently offer innovative solutions for evolving market trends and customer needs.
As hybrid working models continue to gain traction, the demand for flexible and adaptable workplace solutions is on the rise. Haworth remains at the forefront, offering a diverse range of furniture solutions designed to meet the emerging needs of today’s workplaces. Recent success in pods is a reflection of understanding market needs and providing relevant solutions.
Haworth has its presence across 150+ countries, employing over 8,000 professionals worldwide. In India, Haworth has 5 showrooms and offices employing over 300 employees and also established a global Shared Services Centre (SSC) in Chennai as part of the company’s best shoring initiative.
Composite Scheme of Arrangement between Kesoram Industries Limited, UltraTech Cement Limited and their respective shareholders and creditors, under Sections 230 - 232 and other applicable provisions of the Companies Act, 2013 (“Scheme”) This is further to our communication dated 30th November, 2023 informing you about the approval of the Board of Directors of the Company to the Composite Scheme of Arrangement between Kesoram Industries Limited (“Kesoram”), UltraTech Cement Limited (“the Company”) and their respective shareholders and creditors for the acquisition of cement business of Kesoram, subject to requisite approvals. We now write to inform you that the Competition Commission of India (“CCI”) has by its letter dated 19th March, 2024 approved the proposed combination under Section 31(1) of the Competition Act, 2002. Copy of the letter is attached. The same is for your information and record.
