Liberty Shoes tannery plan
Liberty shoes plan to expand their domestic manufacturing capacity by starting a shoe factory in either Karnataka or Andhra Pradesh and buying a tannery in Tamil Nadu, according to executive director, Adarsh Gupta. He said the factory would be set up 'once value added tax gets implemented', while acquisition of a tannery Tamil Nadu was a long-term plan.
The tannery may not be the only acquisition for Liberty since their merchant banker is negotiating with Hindustan Lever to acquire their shoe manufacturing business. A new plant with a capacity to 5,000 pairs of leather shoes a day would be ready in Uttaranchal by mid-June, he said.
A company release said Liberty are the only Indian company featured in the list of the world's top five manufacturers of leather footwear.
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