Kolkata-based Indian plywood manufacturer Century Plyboards (India) Ltd is planning to acquire an MDF manufacturer in Thailand, reports the Business Standard.

MDF is an emerging market in India, but has the potential to expand, according to Century Plyboards’ joint managing director Sanjay Agarwal.

He noted that many companies, including Century Plyboards, import the product for domestic consumption, though he stressed no firm decision had been taken on an acquisition.

Century Plyboards had planned to set up two MDF plants in Punjab and Uttarkhand, and had acquired the necessary licenses.