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Mr Niels Due Jensen, Group Chairman, Grundfos, with Mr N.K. Ranganath, CEO, Grundfos Pumps India Pvt Ltd, at a press conference in Chennai on Thursday. - Shaju John

Chennai , March 24

GRUNDFOS Pumps India Pvt Ltd, a subsidiary of Grundfos of Denmark, has just completed building its factory in Chennai, at a cost of Rs 16 crore. The company aims to achieve a turnover of Rs 75 crore, 50 per cent more than the 2004 sales of Rs 50 crore, Grundfos India's Managing Director, Mr N.K. Ranganath, said at a press conference here on Thursday.

After eight years in the country, the Grundfos group has now expanded its Indian sales company to include production facilities too.

In its new facility, Grundfos pumps will be assembling and producing a variety of pumps for industrial and domestic use.

Asked about local content of the pumps, Mr Ranganath said that indigenisation could vary very widely from one product to another. But overall, the company would start with a localisation of about 15 per cent and increase it as volume grows.

Mr Niels Due Jensen, Group Chairman, Grundfos, said that Grundfos was open to buying components from Indian suppliers — and would indeed be prepared to provide capital, if necessary — but the suppliers would have to meet its rigorous standards.

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