This strategic collaboration under the brand Greenply-Samet has commenced its manufacturing activities and commercial production as per the Phase-I plan on 30th March 2024 at its state-of-the-art unit in Vadodara, Gujarat
August 23, 2024, Delhi, India: Greenply Industries Ltd., a pioneer in the Indian plywood industry, and Samet, one of the leading global brands in functional furniture hardware have commenced their business operations together as part of their joint venture Greenply-Samet and are set to revolutionize the Indian furniture hardware market. In a press conference in Delhi graced by Mr. Manoj Tulsian, Joint Managing Director and CEO of Greenply Industries, and Mr. M. Serdar Senemoglu, Executive Board President, Samet, shared their insights and vision for this groundbreaking collaboration.
Greenply Industries and SAMET B.V. marked a signi?cant milestone on 26th October 2023 by forming a Joint Venture Company named "Greenply Samet Private Limited." This strategic collaboration under the brand Greenply-Samet is poised to bring a new wave of innovation and quality to the industry. The joint venture commenced its manufacturing activities and commercial production as per the Phase-I plan on 30th March 2024 at its state-of-the-art unit in Vadodara, Gujarat. The production capacity at this facility will be strategically ramped up in three phases over the next three years, ensuring a steady increase in output to meet growing market demand. With an investment of around 250 crores, the Vadodara plant is set to become a cornerstone of Greenply-Samet's operations, blending Greenply's industry expertise with Samet's advanced technological capabilities. This joint venture is dedicated to manufacturing and marketing premium furniture hardware, including state-of-the-art slide systems for wooden and metallic drawer systems, hinge systems, lift-up systems, and other innovative products.
This partnership not only aims to cater to the domestic market but also envisions making India a global hub for functional furniture hardware. The synergy between Greenply and Samet is expected to drive signi?cant growth and create new benchmarks in the industry. Through this joint venture, both companies are committed to delivering exceptional value and innovative solutions to their customers, setting the stage for long-term success. Built on the synergy of skills, resources, and market knowledge, Greenply-Samet provides a best-in-class range of furniture hardware products that are functional, aesthetic and tailored for the needs of every living area. The manufacturing operations based in Vadodara and headquarters in Mumbai, the venture seamlessly integrates Samet's precision in production with Greenply's strategic market reach, setting new benchmarks in the industry.
Mr. Manoj Tulsian, Joint Managing Director and CEO, Greenply Industries Ltd., spoke of the vision for the venture, "Our strategic partnership with Samet represents a signi?cant leap forward in our journey to deliver unparalleled furniture hardware solutions in India. This venture combines Greenply’s deep understanding of the Indian market with Samet’s world-class technology and innovation. Together, we are poised to rede?ne the standards of furniture hardware in India, offering products that resonate with the needs of modern consumers."
Mr. M. Serdar Senemoglu, Executive Board President, Samet, stated, "This joint venture with Greenply is a testament to our shared vision for growth and excellence in the Indian market. By leveraging Greenply’s strong market presence and Samet’s advanced technological capabilities with 51 years of corporate excellence, we are con?dent in our ability to deliver innovative, high-quality hardware solutions that will transform the landscape of interior design in India. We will transform our corporate strength that is already approved by Deloitte in 2022 with the best-managed company award to Greenply Samet operation as well. Our collaboration is set to create new benchmarks in the industry, driving both companies to new heights of success."
Greenply Industries Ltd. stands as one of India’s foremost interior infrastructure companies, with a legacy spanning over three decades. Known for its superior quality plywood, MDF, and allied products, Greenply has continually pushed the envelope in innovation and sustainability. The company recently achieved a signi?cant milestone by obtaining CARB and EPA certi?cations for its Zero Emission plywood product range, setting a new standard in the industry. Additionally, Greenply inaugurated a state-of-the-art MDF production line in Vadodara, Gujarat, in April 2023, equipped with the latest PRODIO NEO technology from Siempelkamp, Germany.
Founded in 1973 in Istanbul, Samet has established itself as one of the global pioneers in the furniture hardware industry. Celebrating its 50th anniversary in 2023, Samet has a rich history of innovation and excellence, offering over 6,000 types of cabinet hardware. The company is renowned for its commitment to European quality standards and its ability to deliver cutting-edge solutions that enhance both the functionality and aesthetic appeal of furniture worldwide.
Samet’s focus on research and development has driven its success, making it a perfect partner for Greenply in this ambitious joint venture.
Headquartered in Mumbai, with manufacturing operations in Vadodara, Greenply Samet India Private Limited combines the precision of Samet’s manufacturing and innovation expertise already registered with patented, value-added products in all furniture accessorize categories with Greenply’s extensive market reach. As one of the top-ten leading brands in that category, we will continue to heavily invest in strategic product groups- developed by the global R&D team of Samet- that will also add value to Greenply Samet cooperation. This partnership is set to address the growing demand in India for high-quality, functional, and aesthetically pleasing furniture hardware, reinforcing the market positions of both Greenply and Samet.
The furniture ?ttings sector is growing at a faster rate due to increased demand and availability of quality products in India, therefore GREENPLY-SAMET planned its investments according to key product categories throughout the 5-year projection. In addition to existing more than 6000 products in the portfolio, it has prioritized the Master hinge and GS-Class ball-bearing slide system for India production reference to the demand of the market and production has started in the fully integrated production centre in Vadodara as of 2024. The company’s local manufacturing presence and capability will become even stronger with the commissioning of Smart Slide full extension undermount slide systems and Flowbox drawer box systems in the further Phases of Production.
In Phase 3, the production centre will achieve a full–scale volume with the manufacturing of Slide single-extension undermount slides and a Slim-Mech single lift-up door system. In line with these developments, the rapid growth process of Greenply-Samet will be carried to a higher level on a segment and channel basis.
About Greenply Industries Limited:
Greenply Industries Limited (GIL), has a leadership position in the plywood industry with four state–of– the–art manufacturing facilities spread across the country. The Company provides world-class interior products for the domestic and global markets including Plywood, MDF, Block board, Flush doors, Decorative Veneers and PVC products. The company has a widespread presence in over 1100 cities, towns, and villages across 27 states and 6 union territories, serviced through a well-entrenched distribution network of more than 2,300 dealers and authorized stockists, a retail network exceeding 6,000 and more than 50 physical and virtual branches pan-India. Greenply pushed the bar of our innovation to pioneer India’s first-of-its-kind E-Zero plywood range in FY21. The Company added another feather to its cap by publishing its first sustainability report for FY22, the first of its kind in the wood panel industry. Greenply has been conferred with Great Place to Work third year in a row (2020, 2021, 2022) for its contribution to building a High-Trust and High-Performance Culture in the organization.
About SAMET:
SAMET, the leading brand of Türkiye in furniture hardware, was established in 1973 in Istanbul. It is one of the largest manufacturers in the world with more than 6000 products in the categories of hinge systems, drawer systems, drawer box systems, lift-up door systems, sliding door systems and ?tting systems. All SAMET products are produced in Çerkezköy-nearby to Istanbul- in its modern and high-capacity 80.500 m2 production facility equipped with the latest technology.
SAMET, attaching considerable importance to innovation and design, has more than 1000 employees 100+ of which are working in the R&D department. It is not only the perfect function of the products but also the most aesthetic and fashionable products are in the portfolio. It has more than 500 active sales points in the local market and export operations to more than 80 countries in ?ve continents. Based on customer satisfaction and dominating the market by following the technological developments closely, SAMET is one of the biggest players in the industry in the global market with the target of outperforming and environmental consciousness.
About Greenply-Samet:
Greenply-Samet is a collaborative venture between Greenply Industries Ltd. and Samet, two leading pioneers in the furniture hardware industry. This partnership merges Samet's renowned craftsmanship with Greenply's extensive global presence to deliver innovative, high-quality furniture accessories. Committed to quality and sustainability, Greenply-Samet aims to elevate living spaces worldwide through exceptional products. With manufacturing operations based in Vadodara and headquarters in Mumbai, the venture seamlessly integrates Samet's precision production with Greenply's strategic market reach, setting new benchmarks in the industry. Master hinge and GS-Class ball-bearing slide systems have started to be produced in the Greenply Samet production center and in the near future, slide systems, drawer box systems, and lift-up solutions will be produced in our facility located in Vadodara as well. The aim of JV company is to reach the level of 90% locally produced, value-added product portfolio in a couple of years.