The Hindu : Business : Schwing Stetter's expansion project

Online edition of India's National Newspaper
Saturday, Dec 11, 2004

Business

Business

Schwing Stetter's expansion project

By Our Staff Correspondent

CHENNAI, DEC. 10. Schwing Stetter India Private Limited, a wholly owned subsidiary of Schwing Stetter, Germany, has invested Rs. 18 crores to set up its second facility at Irungattukottai, near Chennai. The new plant will produce transit mixers and will have an installed incapacity of 120 to 150 units a month. The plant, coming up on 15 acres, will have facilities for sheet bending, automatic welding, shot blasting and painting bays. It will also have a separate area for equipment service and operational and technical training, according to Anand Sundaresan, Managing Director of the company.

Mr. Sundaresan told the media that the plant would be inaugurated on December 13. This facility will be located adjacent to its existing unit and will cater to the domestic and export markets. The expansion project will also cater to the needs of the customers through its newly set-up equipment services facility, spare parts store and operator training centre.

Jochen Goerlich, Chairman of company said of the 11 units located in North and South America, India, China, Russia, Germany and Austria respectively, the Indian unit has achieved the fastest growth and has become the most profitable. He said the potential in India was quite large and the unit would soon achieve a turnover of $ 100 million and go on to become a major player among the group companies in five years. This year the company had a turnover of Rs. 170 crores and an order book value of Rs. 30 crores.

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