Flowserve India Controls Pvt Ltd, part of the $4 billion US engineering giant, Flowserve Corporation, will invest $30 million (Rs 150 crore) in the expansion of its pump plant at Coimbatore, Mr Mark Blinn, Flowserve Corporation's President and CEO, told Business Line today.
The new factory, the third in the same premises, will produce mainly high energy feeder pumps that form part of boilers in power plants. The plant is expected to go on stream by the end of 2012, Mr Blinn said.
On a visit to Chennai to celebrate the 35th anniversary of Sanmar Engineering Corporation (Flowserve has a joint venture with Sanmar), Mr Blinn said that the investment in Coimbatore exemplified Flowserve's upbeat mood over the Indian market.
Flowserve, a 220-year-old company, produces a range of engineering products — such as pumps, valves and actuators, seals and monitoring and control systems. It has 12 facilities in India and the company is present both on its own and through joint ventures. It partners with L&T in Audco India Ltd. Across these twelve facilities, Flowserve employs about 2,500 people in India.
The company also has two joint ventures with the Microfinish group in Hubli, Karnataka, both of which it owns a majority stake.
Mr Blinn was fulsome in his praise for the technical talent in India, which he said, Flowserve would employ gainfully for serving its global needs.