Financial Daily from THE HINDU group of publications
Sunday, Apr 03, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 03, 2005 |
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Corporate
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New Projects Haworth to invest $10 m in new facility at Pune's IT hub Our Bureau
Pune , April 2 HAWORTH Inc, the $1.26-billion designer and manufacturer of office furniture and workspaces, said here on Saturday it will invest an estimated $10 million to set up a 100 per cent owned manufacturing facility and three new showrooms in India. The manufacturing facility is coming up at Pune's large information technology hub at Hinjewadi, Mr Frank Rexach, Vice-President and General Manager, Haworth Asia Pacific, said. Addressing a press conference in the city, Mr Rexach said the new facility, being set up at a cost of an estimated $5 million will go on stream with production of office chairs in October and workstations in November. "With the rapid expansion of global and domestic companies in India, there is a huge potential to grow our business here, especially since these companies are now moving towards professional workspace solutions,'' he said. Haworth has been in the Indian market since 1998 having installed over 30,000 workstations and 50,000 ergonomic at client locations across various cities in the country, by importing them from China and Australia among others. The company has 26 other manufacturing facilities across the world and is the only privately held global player in the business. Mr Rexach said the company's decision to invest in a manufacturing facility in India is in line with its global plans to develop India as a key strategic region which will eventually service markets in South East Asia and West Asia. Plans are being firmed up to set up an ideation team in India that will throw up future product lines and provide consulting services to customers according to Mr Kapil Agarwal, Managing Director, Haworth India, said. The ideation team is likely to be in place by October next year and will be the only other location which has such a concept in addition to its China facilities. "Our business in India has grown from less than $2 in 2000 to the level of $20 million which we will cross in 2005'', he pointed out. Mr Agarwal said that the city's huge IT and ITES boom was partly the reason behind the company choosing it for its new facility. Haworth is planning to set up showrooms in key markets and while the New Delhi showroom is already functional, the Mumbai and Bangalore outlets will be operational by June, he added.
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