Aiming to expand its range of ‘Made in India’ products, Milacron LLC, the global leader in high precision plastic processing technologies and control systems, on Friday announced its plans to further invest $30 million (₹180 crore) in its India operations.

The firm will invest $20 million in Ferromatik Milacron India’s Ahmedabad facility to double its manufacturing capacity of injection and blow molding machines and to commence the production of extrusion line. Also, it will invest another $10 million in Mold Masters (a subsidiary of Milacron LLC), manufacturers of hot runners and controls, for expansion at its Coimbatore facility to meet the growing customer needs.

Announcing the investment, Milacron President and CEO Tom Goeke, who is currently in India, stated, “We certainly share the new government’s 'Make in India' philosophy. In fact, we have a ‘Made in India, for India’ strategy. It makes immense business sense for us, helping us directly target a growing set of customers with locally made products in India and sold globally.

“Going by the current growth rate, by 2020 India will be second only to China in the global polymer processing market. We are very positive about our growth in India and plan to continue to make substantial investments in India and rest of markets in the coming years.” said Goeke.

The expansion at Ferromatik Milacron India (FMI) will increase the production capacity from 1,500 to 2,100 injection molding and blow molding machines a year. It is also planning to double the workforce in various Indian locations to 2,400 in line with the expansion.

The growth of infrastructure and construction market in India is a major reason for the expansion and introduction of Extrusion Line and the company wants to expand its market share.

The Cincinnati-based Milacron’s manufacturing plants are based in Ahmedabad and Coimbatore.

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