Comments
Sandvik Asia has plans to manufacture India-specific construction equipment as part of its strategy to focus on the construction and mining sector that has been identified as a major growth area.
The company has acquired 50 acres at Chakan near Pune to set up a new unit for the purpose. It is expected to go on stream by 2015. Sandvik has launched a new surface rock drill that has been designed and manufactured in India from components sourced locally, and also plans to design and make products for the domestic construction and mining sector, said Olof Faxander, President and CEO.
He said the company will also source components from India for export to its other plants globally adding that Sandvik will make significant investments in India, including in its R&D centre over the next two years. Ajay Sambrani, Managing Director, said: “We have identified mining and construction as a major growth area in India, which will make significant contribution to the company’s top line and would become the largest business area in Sandvik.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.