Business Daily from THE HINDU group of publications
Thursday, Nov 13, 2008
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Business Daily from THE HINDU group of publications Thursday, Nov 13, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook Danfoss to make India a major sourcing hub 
Mr Kim Fausing T. Murrali Chennai, Nov. 12 Last year, Danfoss India Pvt Ltd, a subsidiary of Danfoss Industries of Denmark, exported products (such as switches, condensers and variable frequency drives) worth about €1 million. In the current year, its exports would be ten times as much. “Our plan is to make India a major sourcing hub for global operations of Danfoss,” says Mr Kim Fausing, Chief Operating Officer, Danfoss, who was in Chennai recently. The ‘hub’ is slowly becoming visible – Danfoss plans to produce 60,000 units of pressure switches in India, half of which will be exported to China. Mr Fausing told Business Line that the company is looking to enlarging the basket of products bought from Danfoss India. The potential is huge. Danfoss sources close to $2 billion each year, a quarter of which comes from low cost countries. The plan is to raise this proportion to about 40 per cent. After being present in India for 10 years, Danfoss is busy working out a roadmap for its India operations for the next decade. The company has so far invested $4 million in India, but sales in 2007 amounted to $50 million. Danfoss expects sales from India to cross $200 million by 2012. On the anvil are plans to set up a second plant, a laboratory and testing facility for its products. Danfoss to set up purchase office here More Stories on : Outlook | Electrical Goods
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