Kolkata-based, Greenply Industries Limited has announced that company’s board of directors has decided to incorporate a wholly owned subsidiary company of Greenply Industries Ltd in the name of GREENLAM AMERICA INC in the state of Florida (U.S.A).

The wholly owned subsidiary company shall be engaged in the marketing of Laminates manufactured by the company.

Greenply Industries Limited engages in the design, manufacture, supply, and export of decorative laminates, veneers, medium density fiber boards, and prelaminated particle boards. It also offers value added panel products, reconstituted timber products, industrial laminates, and granite monuments. The company exports its products to the United States, Spain, Singapore, Hong Kong, Dubai, Srilanka, Malaysia, Mexico, South Africa, West Indies, and Korea.

The company reported a 50% increase in net profit at Rs. 98.0 million for the quarter ended December 2007. Its sales increased by 40% to Rs. 1,525.2 million.