Tamil Nadu - Madurai   

Fenner plans major expansion

ROAD MAP:V.P. Singhania, Managing Director, Fenner-India, addressing a meet in Madurai.

MADURAI: Fenner-India is planning a major expansion drive in the medium term ins all its manufacturing units, located in south India. It has outlined an investment of Rs. 250 crore in the next three to four years, according to its Managing Director V.P. Singhania.

Addressing a press conference here on Wednesday, he said that this would include developing wind power with Rs. 50 crore in the medium term and possibly another Rs. 100 crore in 18 months' time based on the progress.

The company had already pitched in Rs. 150 crore in the last few years on its six manufacturing units.

This included major investments in its two Madurai units with the Nilakottai facility getting Rs. 50 crore last year and the Kochadai facility getting Rs. 20 crore this year.

Fenner's parent group, JK Organisation, had planned an ambitious Rs. 6,000- crore expansion plan. While the automobile sector was growing at a promising rate, he said that textiles was also a focus area for the company.

The Rs. 500-crore company recorded a growth of 20 per cent last year.

With the economic outlook in the country looking promising, he said that this growth rate could be expected to continue in the medium term also. “From a global perspective, India was well-placed, being dependent on domestic markets more than exports to drive growth.”

Its president and Director A.N. Ravichandran said that exports constituted 12 to 15 per cent of the company's total turnover. The focus areas of export include Asia Pacific, West Asia and South America. Apart from its core business of oil seals and belts, the company was also into paper and pulps, cements, power sector and sugar, besides conducting clinical research and software development, he said.

Mr. Singhania was in the city to attend the birth centenary celebrations of Lala Lakshmipat Singhania, a key architect behind the growth of JK Organisation in which Fenner-India is a member company.

Addressing the celebrations, Collector C. Kamaraj said that the efforts taken by this personality fuelled the growth of JK Organisation into one of the four top private organisations in the country. He was also a visionary who pioneered many industrial initiatives. While legislation on corporate social responsibility was being contemplated by the State, he requested the company to consider adopting a village in a predominantly rural belt in Madurai.

Mr. Singhania, grandson of Lala Lakshmipat Singhania, said that 3,000 saplings were planted on the premises of its various units to remember him and also contribute to the local environment.

Fenner was already implementing several social welfare initiatives and the Collector's request to adopt a village would be explored. He also recalled that President Pratibha Patil has released a stamp in November, brought out by the Postal Department to commemorate the birth centenary of Lala Lakshmipat Singhania.

District Revenue Officer Dinesh Ponraj Oliver and vice-president (Operations) S. Muralidharan took part.

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