The Hindu Business Line : Socomec to make India outsourcing hub for switchgears

It is poised to invest Rs 150 crore on capacity expansion over the next three years in its joint venture HPL Socomec Private Ltd, which specialises in the manufacture of electrical protection equipment.

While HPL, the Indian arm, was set up in 1956, HPL Socomec came into existence in 1993. The company is in the process of setting up a manufacturing facility at Jabli (Himachal Pradesh) with an investment of Rs 50 crore. The facility would be operational by January.

The company's existing facility is at Gurgaon (Haryana).

Explaining the rationale for expansion, Mr Michel Krumenacker, Product Marketing and Development Director, Socomec, said: "We plan to make India an outsourcing hub for Socomec's global markets." Socomec has manufacturing facilities in France, India, Tunisia and China.

After the expansion, the capacity in India would be the largest after France for Socomec. The competitors of HPL Socomec in the country include L&T, Havells and Siemens.

According to the company, it has over half the market share in switchgears.

HPL Socomec, which has 22 marketing offices across the country, clocked a turnover of Rs 150 crore last fiscal and is targeting Rs 400 crore in the next three years.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Socomec to make India outsourcing hub for switchgears

Sunset review on dumping duty on sodium hydrosulphite

BPCL keen on trading in NCDEX natural gas futures — Ties up for collaboration on furnace oil contracts

`Export cars, not iron ore'

`Concerns about Wal-Mart, other giants unfounded'

Confederation of NGOs for rural India launched

Co secretaries must go in for talent pooling

US Senators push for 50 pc hike in H-1B visas

Mexico to issue visas in 24 hours to businessmen

RBI against gold imports as personal baggage
`It may become another source of money laundering'

New President of TAAI

New NMDC director